Asian markets rally as tech demand lifts stocks despite selloffs
Asian stock markets had a strong Wednesday, with Japan's Nikkei up 3% and South Korea's index rising 3.4%, mostly thanks to high demand for tech stocks and fresh Wall Street records.
Still, not every tech company was celebrating. AMD shares fell 9% even after beating expectations, as investors cashed in profits, and SpaceX dropped 7.5% on worries that capex spending was eating up all its cash flow.
Oil falls as Qatar eases tensions
Oil prices slid after Qatar helped cool U.S.-Iran tensions, which took some pressure off inflation.
This gave bonds a boost (US 10-year Treasury yields slipped from last week's highs) and made a Fed rate hike in September seem less likely (now at 57%, down from 67%).
Meanwhile, New Zealand's dollar dipped after unemployment hit its highest level in 10 years.