Asian markets fell on Wednesday following a mixed batch of US earnings that did little to boost enthusiasm as investors look for the tech sector to continue filing blockbuster profits after pumping billions into artificial intelligence.
Traders are also shifting cautiously as they weigh the outlook for US policy post-election, with Democrat chances boosted by the expected nomination of Kamala Harris to replace Joe Biden to battle Donald Trump in November.
Equities have largely been boosted this year by growing expectations that the Federal Reserve will cut interest rates thanks to slowing inflation and a softening of the labour market, officials have indicated lately they are open to a move soon.
The prospect of a more welcoming borrowing environment has heavily benefited tech firms, particularly as they have invested massively in AI, seeing it as the next big money-spinner.
And profits have not disappointed in most cases, helping push their …