Asian stocks backed away from 2-1/2-month highs on Wednesday and the dollar found support as investors' tempered some of their earlier enthusiasm about the prospect of an end to U.S. interest rate hikes.
The early focus was on Nvidia, which in AI tech terms is the only company selling shovels during a gold rush. Its Q3 earnings handily beat the Street, as did its forecasts for Q4, although the bullish expectations built into this stock are so immense its shares still eased a touch.
Asian stocks backed away from 2-1/2-month high on Wednesday and the dollar found support as investors' tempered some of their earlier enthusiasm about the prospect of an end to U.S. rate hikes.