Stocks halted their momentum at the start of a key inflation week, with traders bracing for Federal Reserve rate decisions that will shape the outlook. The S&P 500 retreated from near-all-time highs after Nvidia Corp. slid amid a Chinese probe into suspected anti-monopoly law breaches.
The US chipmaker’s China probe is part of an escalating global tech war, as top leaders in Beijing signaled increased support for monetary easing and domestic consumption. Meanwhile, Chinese stocks listed in the US surged, driven by hopes for policy changes that could boost economic growth. With inflation data on the horizon, traders will be watching closely to gauge Federal Reserve rate decisions and their impact on the market.
Source: https://www.bloomberg.com/news/articles/2024-12-08/asian-markets-cautious-amid-geopolitical-tensions-markets-wrap