Tech Selloff and Central Bank Moves Shake Global Markets

Asian markets experienced a downturn following a tech-led selloff on Wall Street. Amid anticipations of a central bank meeting, oil prices saw a slight increase as discussions about Ukraine might ease sanctions on Russian oil. Simultaneously, the U.S. government's potential equity stakes in tech firms sparked investor anxiety.

Global markets faced turbulence on Wednesday as Asian shares dropped, driven by a tech-led selloff on Wall Street. Investors are keenly observing a crucial central bank meeting scheduled later this week. Meanwhile, the dollar showed resilience, spurred by potential interest rate changes.

Oil prices rose modestly after prior declines, as traders speculated on the possibility of an agreement to end the war in Ukraine, which could potentially ease sanctions on Russian oil and increase global supply. Major stock futures in Europe and the U.S. saw slight declines, indicating market hesitation.

Concerns grow among investors regarding the U.S. government's intervention in tech firms, especially following announcements about Nvidia, AMD, and potential equity stakes in companies receiving CHIPS Act funding. Additionally, geopolitical discussions around the Russia-Ukraine conflict remain tense, influencing market sentiment globally.

(With inputs from agencies.)