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Asian stocks were mostly lower on Monday after Wall Street's massive rally stalled last week.
Japan's Nikkei 225 index fell 2.5% to 38,704.10. The government released revised figures showing the economy grew 0.1% in the final quarter of the year, better than the minus 0.1% previously reported but lower than forecast.
This means that the economy is not in a technical recession, but is just growing at a snail's pace.
Hong Kong's Hang Seng rose 0.9% to 16,498.79 and the Shanghai Composite slipped 0.1% to 3,043.67.
China's National People's Congress ends later on Monday with no major policy changes expected. The largely ceremonial body supports decisions made by top leaders of the ruling Communist Party.
Elsewhere in Asia, South Korea's Kospi fell 0.2% to 2,670.75 and Australia's S&P/ASX 200 fell 1.5% to 7,727.60.
On Friday, the S&P 500 fell 0.7% from its all-time high set the previous day, closing at 5,123.69. The Dow fell 0.2% to 38,722.69 and the Nasdaq slipped 1.2% to 16,085.11.
Stocks initially rose after mixed U.S. jobs data boosted hopes of lower interest rates later this year. It later suffered a loss after one of the most influential stocks, Nvidia, suffered a rare crash following a stunning rise that critics called excessive.
Friday's decline also gave the S&P 500 a rare losing week, just the third in the last 19.
The jobs report showed that employers hired more workers than expected last month, but workers' wages rose less than forecast. It also said that job growth in January was nowhere near as strong as previously thought.
The overall economy is in a delicate position and needs just the right amount of growth to avoid recession without increasing inflationary pressures.
The ultimate goal is for prices to cool enough to convince the Federal Reserve to cut its key interest rate from its highest level since 2001, easing pressure on the financial system and economy.
Lower interest rates encourage people and businesses to borrow, which can strengthen the economy. This drives up the prices of stocks and other investments.
Fed Chairman Jerome Powell said the central bank is “not far” from cutting interest rates and just needs more data confirming that inflation is indeed falling to its 2% target.
The hope on Wall Street is that the remarkably resilient economy will drive corporate earnings growth.
On Friday, gun maker Smith & Wesson Brands rose 29.4% after reporting higher-than-expected profit for its latest quarter. Deliveries grew faster than the entire firearms market.
But Nvidia was the main stock in the spotlight as it fell 5.5% on its worst day since May. That's a rare blip for the stock, which is up nearly 77% this year after more than tripling last year.
Since Nvidia has become the third largest US stock, it has significantly more weight in the S&P 500 than almost all others. That has buoyed Wall Street but leaves it vulnerable to setbacks, especially when critics say stocks caught up in the artificial intelligence market frenzy have surged too much and too fast.
Also on the losing side was Broadcom, which posted a decline despite reporting better-than-expected results. The share price fell 7% after providing sales forecast for the coming year that was slightly below analysts' expectations.
Costco Wholesale fell 7.6% after sales fell short of forecasts in its latest quarter.
In other trading early Monday, U.S. benchmark crude oil fell 70 cents to $77.31 a barrel in electronic trading on the New York Mercantile Exchange. On Friday it fell 92 cents to $78.01 a barrel.
Brent crude, the international standard, fell 68 cents to $81.40 a barrel.
The US dollar fell to 147.02 Japanese yen from 147.07 yen. The euro was unchanged at $1.0941.
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