Asian Stocks Drop After Nvidia Revenue Forecast

Asian equities declined on Thursday, primarily driven by Nvidia's disappointing revenue forecast, which projected the slowest growth in seven quarters, leading to a 2.5% drop in its shares. This downturn affected Nvidia suppliers and broader technology stocks across Asia, with Japan's Nikkei falling 0.7% and Taiwan stocks down 0.5%. Geopolitical tensions from the ongoing conflict in Ukraine also influenced market sentiment, pushing investors toward safe-haven assets like gold. Market analysts noted that despite Nvidia's strong performance, high expectations for growth led to selling pressure when the forecast was less than anticipated. Additionally, the focus shifted to the Adani Group after its chairman was indicted in a bribery scheme, causing a sharp fall in dollar bond prices for the conglomerate. Overall, the combination of Nvidia's forecast and geopolitical concerns dampened investor appetite in the region.