Stocks and Treasury yields fell as weaker U.S. data sparked economic slowdown fears. Japan's Nikkei tumbled amid yen gains after the Bank of Japan raised rates.
Investors await the U.S. nonfarm payrolls report for further clues on the economy. Geopolitical tensions and weak tech earnings also weighed on markets.
The Dow Jones futures fell, tech giants reported earnings, and Nvidia announced job cuts and a suspended dividend. Flaring economic worries threaten the U.S. stock rally, with concerns over the presidential race volatility and the Fed's balancing act between economic weakness and corporate earnings.
Hong Kong stocks slid after the U.S. data shock triggered a regional sell-off. Local developers and EV makers faced pressure, while deflation and Beijing's stimulus inaction pushed investors to reduce exposure.
Overall, the stock market experienced a slump, with stocks crashing, indexes tanking, and treasury yields hitting multi-month lows.
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