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Global Market Quick Take: Asia – May 31, 2024
The S&P 500 Index tumbled to a nadir unseen in over a fortnight on Thursday, briefly pausing due to a pricing hiccup, amid persistent anxieties that the Federal Reserve may persist with its stringent monetary stance, casting a pall over market sentiment. Dragging the index down to 5,235 were notable declines in the technology sector. This was exacerbated by a slowdown in the approval process for export licenses by U.S. authorities, impacting prominent chip manufacturers like Nvidia Corp. and Advanced Micro Devices Inc. These firms have reportedly been facing delays in obtaining permissions necessary for shipping ... (full story)