Global Markets Decline on Trade Tensions, Earnings

Asia-Pacific markets mostly declined on Thursday, following Wall Street's losses due to renewed U.S.-China trade fears. South Korea's Kospi index erased its earlier gains after the Bank of Korea kept its benchmark interest rate unchanged at 2.5%. Japan's Nikkei 225 and Topix indexes also fell, while Australia's ASX/S&P 200 remained flat. Indian stocks bucked the trend, rising on the back of a holiday return. The U.S.-China trade tensions resurfaced after reports that the Trump administration is considering curbs on exports to China made with U.S. software.

Tesla's third-quarter earnings missed expectations due to increased operating costs despite a 12% year-on-year revenue rise. The company's net income plunged 37% from a year earlier. Investors were displeased, sending Tesla's shares 3.8% lower in extended trading. Other news included oil prices spiking on new US sanctions on Russia, Reddit suing Perplexity for allegedly scraping user posts, and US stocks retreating on disappointing earnings from Netflix and Texas Instruments.

European markets are expected to open lower on Thursday as investors await major earnings reports from companies such as Kering, Roche Holding, and Unilever. The earnings reports could provide insights into business activity and confidence in the region. Oil prices are also in focus after the Trump administration imposed sanctions on Russian crude companies, while U.S.-China trade relations continue to be a concern. Overnight, Asia-Pacific markets mostly fell, tracking Wall Street's declines on Wednesday. U.S. stock futures edged lower as investors digested quarterly earnings releases from companies like Tesla and IBM.

The stock market is experiencing fluctuations as investors digest quarterly earnings releases from major companies. Stock futures edged lower on Wednesday night, with Dow Jones Industrial Average futures falling 87 points. Tesla and IBM reported mixed results, with Tesla shares dipping 3% and IBM shedding 6%. Investors are watching earnings releases from the biggest U.S. companies, with over three-quarters of S&P 500 companies reporting so far exceeding expectations. The market is also focused on trade tensions, with President Donald Trump easing fears about U.S.-China relations after announcing a scheduled meeting with Chinese President Xi Jinping. Inflation data due Friday is expected to provide further clues about the economy's health ahead of the Federal Reserve's late October meeting.