Global Stocks Dive Amid Tech Selloff and Oil Struggles

Asian shares and global stock futures saw a decline following a tech selloff, with the dollar and yen rising on safety bids. Oil prices also struggled due to potential resolution in Libyan crude production. U.S. stocks and futures were affected by investor concerns over economic outlook and AI stocks like Nvidia.

Asian shares and global stock futures fell on Wednesday following a significant tech selloff, reigniting investor concerns. Concurrently, the dollar and yen rose on safety bids, while U.S. Treasury yields edged lower, highlighting apprehensions about the world's largest economy's outlook.

Oil prices remained under pressure, nearing their lowest levels in months, owing to signs of a potential deal to resolve a dispute halting Libyan crude production and exports. Brent crude futures hovered at $73.71 a barrel, and U.S. crude futures dipped to $70.25 per barrel.

Stocks on Wall Street closed sharply lower after the U.S. holiday, with AI giant Nvidia tumbling nearly 10%, reflecting softened optimism about artificial intelligence. This set a negative tone for Asian markets and continued the decline in U.S. stock futures.

(With inputs from agencies.)