Asian Stocks Rise as Nasdaq Hits Record AI Highs
Asian markets rose following a record Nasdaq close driven by AI shares and softer U.S. jobs data that lowered interest rate hike expectations.
Asian stocks rose on October 6, 2026, following a record close for the Nasdaq. The rally was driven by artificial intelligence shares, specifically Nvidia, which reached a market value of $5.76 trillion. Market gains were further supported by softer-than-expected U.S. jobs data, which reduced expectations for a Federal Reserve interest rate hike this month to 23%.
Despite the equity gains, U.S. Treasury yields reached 24-year highs, with the 10-year yield hitting its highest level since 2002 amid concerns over debt and inflation. In Europe, the euro fell toward 17-month lows. This decline followed fiscal concerns in France and political uncertainty in Spain after Prime Minister Pedro Sanchez called a snap election.
In South America, Brazilian stocks and the real currency rallied after right-wing Senator Flavio Bolsonaro advanced to a presidential runoff against incumbent Luiz Inacio Lula da Silva.
