FBM KLCI Edges Down As Broader Market Declines After Wall Street Drop

The FBM KLCI trimmed its losses, but the broader market remained in the red after sharp declines in Wall Street indices overnight.

As trading paused for the lunch break, the benchmark index was down 5.25 points at 1,671.4, reflecting renewed concerns over a potential US recession.

Worries over the hyperinflated prices of US technology stocks, which led to a nearly 10% plunge in Nvidia shares yesterday, also weighed on the market.

Overall sentiment on the domestic front was gloomy, with 773 decliners outpacing 243 gainers.

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