Chinese stocks face a gloomy outlook as corporate earnings show a significant downturn. Investors are concerned that upcoming holiday spending will not be enough to boost the market. Economic indicators point to weak consumer demand. This situation is fueling worries that the Lunar New Year will not bring its usual economic uplift.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.