ASX set to slide, Nvidia weighs on Wall Street
Sydney Morning Herald
by Stan ChoeFebruary 26, 2026
AI-Generated Deep Dive Summary
ASX shares are expected to open lower today as Wall Street struggles despite most stocks rising. The US market is weighed down by Nvidia’s underwhelming response to its latest stellar profit report, which failed to impress investors despite beating expectations. The S&P 500 fell 1.1%, the Dow Jones dropped 204 points (0.4%), and the Nasdaq composite slid 1.8%. While Nvidia's AI-powered chips are driving the tech boom, its stock sank 4.6% as such strong results have become common, losing their impact on investors.
The Australian sharemarket added 0.5% on Thursday, but futures suggest a slight decline at the open. The ASX is closely tied to global markets, with Nvidia's influence felt strongly in US indices due to its status as the S&P 500's largest stock by value. This downturn highlights investor concerns about whether AI advancements will deliver long-term productivity gains or result in spending cuts by businesses relying on Nvidia's chips.
Meanwhile, Salesforce rose 2.9% after reporting stronger-than-expected profits and announcing $50 billion in buybacks and
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Originally published on Sydney Morning Herald on 2/26/2026