Market Tremors: Political Uncertainty in Japan Shakes Global Stocks

Global stock markets experienced a turbulent day as Asian shares closely followed Wall Street's downturn, driven primarily by political instability in Japan. Prime Minister Shigeru Ishiba's uncertain future has left investors wary, amid pressures for him to resign over election setbacks and internal party conflicts.

Across industries, tech giants like Nvidia, Amazon, and Apple catalyzed significant losses in U.S. markets due to mounting concerns over their valuation amidst rising bond yields. The political discourse, coupled with looming tariffs from the Trump administration, exacerbated the anxiety impacting global trade and economic policies.

U.S. manufacturing reports indicated a sector contraction greater than anticipated, prompting traders to anticipate potential interest rate cuts by the Federal Reserve in response to the slowing economy. Energy markets showed slight variance, with U.S. crude edging up while Brent crude declined marginally.

(With inputs from agencies.)