US and European stock markets retreated on Wednesday as investors eagerly awaited results from artificial-intelligence giant Nvidia.
The dollar firmed against rivals as US president-elect Donald Trump works on completing his cabinet picks, the outlook for US interest rates and the prospect of an escalation in the Russia-Ukraine war.
“One of the most highly anticipated days of the earnings season, if not the most, the Nvidia earnings day, is finally here,” noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
Shares in US chip behemoth Nvidia fell 1.7 percent at the start of trading. The company releases its third-quarter earnings after US markets close.
Many investors see the company as a bellwether for the tech sector and artificial-intelligence demand that have helped power Wall Street to multiple record-highs this year.
“It is rare that a single stock dominates the global financial space, however, tonight’s earnings report from Nvidia seems like a …