Stock market today: World shares are mixed after Nvidia pulls Wall St lower

BANGKOK (AP) — World shares were mixed Tuesday after a slide for market superstar Nvidia helped pull U.S. stock indexes lower, while tensions in the Middle East remained high as Israel conducted heavy airstrikes across Syria.

Germany’s DAX edged 0.1% lower to 20,322.69 and the CAC 40 in Paris fell 0.6% to 7,434.97. Britain’s FTSE 100 also fell 0.6%, to 8,302.11.

The futures for the S&P 500 and the Dow Jones Industrial Average were down less than 0.1%.

Market superstar Nvidia’s shares fell 0.8% in pre-market trading, extending a 2.6% loss Monday after China said it was investigating the company over suspected violations of Chinese anti-monopoly laws.

The Shanghai Composite index gained 0.6% to 3,422.66 while Hong Kong’s Hang Seng shed early gains, falling 0.5% to 20,311.28 as traders sold to lock in profits from earlier gains.

At a meeting Monday, Chinese leaders agreed on a “moderately loose” monetary policy for the world’s second-largest economy. That’s the first move in 10 years away from a more cautious, “prudent” stance. A major planning meeting expected Wednesday could also bring more support for the Chinese economy.

China reported its exports rose 6.7% from a year earlier in November, less than expected, and imports fell nearly 4%. Recent price data also have been weaker than anticipated, suggesting demand remains weaker than hoped for.

Tokyo’s Nikkei 225 gained 0.5% to 39,367.58, while the Kospi in South Korea jumped 2.4% to 2,417.84, recovering some of its recent losses as the country’s recent political turmoil simmered on.

On Tuesday, South Korean prosecutors were seeking to formally arrest the former defense minister alleged to have colluded with President Yoon Suk Yeol in imposing martial law last week, as both men are being investigated on rebellion and other charges.

Taiwan’s Taiex shed 0.6% as the government said China’s military appeared to be preparing for widely anticipated drills in response to a recent visit by its president, Lai Ching-te’s visits to Hawaii and Guam. Taiwan’s defense ministry said Monday that it has detected Chinese naval and coast guard ships entering the Taiwan Strait and the western Pacific and that China had restricted airspace along its southeast coast through Wednesday.

The moves have ratcheted up tensions after U.S. President-elect Donald Trump said he would not commit to defending Taiwan if China were to invade during his presidency.

Elsewhere in the region, Australia’s S&P/ASX 200 slipped 0.4% to 8,393.00. Markets in Thailand were closed for a holiday.

On Monday, the S&P 500 fell 0.6% and the Dow Jones Industrial Average dipped 0.5%. The Nasdaq composite pulled back 0.6%.

Nvidia’s decline was by far the heaviest weight on the S&P 500. It has skyrocketed to become one of Wall Street’s most valuable companies because its chips are driving much of the world’s move into artificial-intelligence technology.

The week’s highlight for Wall Street will arrive midweek when the latest updates on inflation arrive. Economists expect Wednesday’s report to show consumer inflation was little changed last month. A separate report on Thursday, meanwhile, could show an acceleration in inflation at the wholesale level.

They’re the last big pieces of data the Federal Reserve will get before its meeting next week on interest rates, where it is expected to cut its main interest rate for the third time this year.

The Fed has been easing its main interest rate from a two-decade high since September help the slowing jobs market, after bringing inflation nearly down to its 2% target.

In the oil market early Tuesday, a barrel of benchmark U.S. crude gave up 23 cents to $68.14 per barrel. It rallied 1.7% Monday to settle at $68.37 following the overthrow by rebels of Syrian leader Bashar Assad, who sought asylum in Moscow. Brent crude, the international standard, lost 21 cents to $71.93 per barrel. On Monday it added 1.4% to $72.14 per barrel.

The U.S. dollar rose to 151.51 Japanese yen from 151.22 yen. The euro fell to $1.0534 from $1.0555.