Asia-Pacific Stocks Expected to Drop Following Wall Street's Decline Amid Intensifying Tech Selloff
Market Trends: Asia-Pacific markets are expected to open lower, following declines on Wall Street, particularly in technology stocks, with Japan's Nikkei 225 and Australia's S&P/ASX 200 both showing significant losses.
U.S. Market Performance: All three major U.S. stock indices closed lower, with the Dow Jones dropping 1.65%, the S&P 500 down 1.66%, and the Nasdaq Composite falling 2.29%, marking their worst day since October 10.
Sector Impact: The technology and communication services sectors were notably affected, with Disney's shares falling nearly 8% due to mixed fiscal results, contributing to the overall market decline.
Upcoming Data from China: China is set to release key economic data today, including retail sales and industrial output for October, following an unexpected 0.5% decline in fixed-asset investment in September.
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