Global Markets React to US Tech Weakness: Asian Shares Subdued, Dollar and Yields Maintain Gains

Asian shares were subdued as Tesla and Netflix earnings reports failed to impress, while the dollar and Treasury yields held gains ahead of upcoming meetings by the U.S. Federal Reserve, European Central Bank, and Bank of Japan. Concerns over the health of Chinese property developers and the weakening yuan added to market unease. The Nasdaq fell 2% on Wall Street, driven by post-earnings plunges in Tesla and Netflix. An unexpected fall in U.S. jobless claims fueled expectations for a strong payrolls report, increasing the likelihood of a second interest rate increase by the Fed. Oil prices rose, while gold prices remained flat.