Nvidia Earnings Loom Large Amid Asian Market Declines

Asian markets took a hit on Tuesday as investors grew cautious about tech stocks, particularly after Nvidia's quarterly revenue expectations were set at nearly double to around $92 billion. Analysts are bracing for the chipmaker's results on Wednesday, with some warning that meeting these lofty expectations will be challenging.

Nvidia's growth has been fueled by a series of circular deals, and investors are eager to see whether this trend is sustainable in the upcoming quarters. Meanwhile, tech sentiment was also dampened by Alibaba's launch of a $10.2 billion share sale at a steep discount to fund its AI ambitions, as well as disappointment over Samsung Electronics' shareholder-return plan.

Oil prices slipped further on Tuesday, with Brent crude futures down 0.1% to $92.08 a barrel. The U.S. dollar continued to gain strength against the Canadian dollar, while the euro and sterling traded slightly lower.