---
title: "What happened overnight – Wednesday 16th October 2024"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-10-16T06:21:26+00:00"
modified: "2024-10-16T06:21:26+00:00"
date: 2024-10-16
canonical: "https://www.share-talk.com/what-happened-overnight-wednesday-16th-october-2024/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["AI-focused", "Asian market", "Asian markets", "Bank of Japan", "Bank of New York", "bond market", "china", "chips", "currency", "Dow Jones", "JP Morgan", "Nvidia", "Russia", "semiconductor", "Shenzhen Composite Index", "South Korea", "US recession", "USA", "Wall Street"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/09/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# What happened overnight – Wednesday 16th October 2024

**Published:** October 16, 2024
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** AI-focused, Asian market, Asian markets, Bank of Japan, Bank of New York, bond market, china, chips, currency, Dow Jones, JP Morgan, Nvidia, Russia, semiconductor, Shenzhen Composite Index, South Korea, US recession, USA, Wall Street
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/09/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1)

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Asian markets largely declined following a tech-led sell-off on Wall Street, driven by concerns over the sustainability of the AI-driven rally.

Leading the losses, Tokyo’s Nikkei 225 index dropped 1.8% to 39,210.61, with tech stocks under pressure after Dutch chip equipment supplier ASML warned of a slower recovery in semiconductor demand beyond the AI sector. Among the biggest decliners, chip manufacturer Tokyo Electron plunged 9.8%, and Lasertec Corp., a chip inspection equipment maker, tumbled 13.4%.

Australia’s S&P/ASX 200 edged down 0.2% to 8,301.80. In South Korea, the Kospi fell 0.4% to 2,622.27, while Taiwan’s Taiex lost 0.5%, and India’s Sensex slipped 0.2%.

However, Chinese markets mostly advanced, bouncing back from recent losses. Hong Kong’s Hang Seng surged 0.9% to 20,501.77, and the Shanghai Composite index rose 0.4% to 3,214.01.

On Wall Street, stocks finished lower on Tuesday. The Dow dropped 0.8% to 42,740.29, while the S&P 500 declined to 5,815.26. The tech-heavy Nasdaq Composite slid 1% to 18,315.59.

The yield on the 10-year Treasury note decreased to 4.03% from 4.1% on Friday, following a closure of the U.S. bond market on Monday.

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