Asia-Pacific markets tumble after Nasdaq records its worst day since 2022; Japan trade deficit narrows

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Asia-Pacific markets tumble after Nasdaq records its worst day since 2022; Japan trade deficit narrows
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Japan's trade deficit narrowed from 1.2 trillion yen, or $7.7 billion, to 224 billion yen.

The tech-heavy Nasdaq Composite fell 2.8% overnight, posting its worst day since December 2022.Japan's Nikkei 225 has been the top performer this year, among large economy stock indexes in Asia and many believe that stocks in the region have more room to run in 2024.Nasdaq CompositeThe tech-heavy index slid 2.77% to end at 17,996.

Imports grew 3.2% year on year last month, down from 9.5% in May. Both exports and imports missed Reuters expectations of 6.4% and 9.3% respectively.declined 1.32%, while the Topix followed suit with a 1% slide.Australia's benchmark index dipped marginally, as investors wait for employment data to be released later in the day.Overnight in the U.S., theadded 243.60 points, or 0.59%, to end at 41,198.08. This is the first time the index closed beyond 41,000. The broad S&P 500 shed 1.

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