"Global Stocks Waver as Rate Cut Hopes Dim and Markets Eye Economic Data"
Asian stock markets experienced declines, mirroring losses on Wall Street amid skepticism over the possibility of early interest rate cuts by the Federal Reserve. Weak economic data from China and a downgrade of its 2022 GDP figure contributed to concerns, particularly affecting the technology sector. Key Asian tech companies saw significant drops in their share prices, influenced by a negative outlook on Apple Inc's sales and caution ahead of the release of the Fed's meeting minutes. Despite recent optimism for rate cuts, the Fed's cautious stance on inflation and the labor market has tempered expectations. Markets are also awaiting U.S. employment data, which could impact sentiments further.