Stocks in Asia Fall Sharply, Extending a Rout Caused by Trump’s Tariffs

Shares of D-Wave Quantum (NYSE: QBTS) surged 14% on Thursday, contrasting with a flat S&P 500 and a 0.4% gain in the Nasdaq Composite. This increase followed Rigetti Computing's announcement of selling two Novera quantum systems for a combined $5.7 million, signaling a positive outlook for the quantum market and boosting investor confidence in D-Wave. Want More Context? 🔎

Nike (NYSE: NKE) is showing signs of recovery, reporting a slight revenue growth in Q1 of fiscal 2026 after challenging periods, with shares rising as investor confidence in new leadership grows. Despite progress in key categories, concerns about competitive pressures and margins persist, and the stock may not be considered cheap given its recent performance. Want More Context? 🔎

Shares of AstraZeneca (NASDAQ: AZN) surged over 10% this week following positive clinical results for Enhertu in HER2-positive breast cancer and a significant deal between Pfizer (NYSE: PFE) and the Trump administration, where Pfizer will reduce drug prices and invest $70 billion domestically, gaining a three-year exemption from tariffs on pharmaceutical imports. This agreement was highlighted during a press conference with Pfizer CEO Albert Bourla and President Trump. Want More Context? 🔎

Shares of Carnival (NYSE: CCL) dipped despite a strong Q3 earnings report, with revenue rising 3.3% to $8.15 billion and adjusted net income improving to $1.98 billion, surpassing estimates. The company raised its guidance for the year, projecting a 55% increase in adjusted net income to $2.95 billion and a 15% rise in adjusted EBITDA to $7.05 billion, driven by higher net yields and cost management. Want More Context? 🔎

Opendoor Technologies (NASDAQ: OPEN) operates in the iBuying sector, purchasing and selling homes, and could benefit from declining interest rates amid economic challenges. However, investors should be wary of the company's low gross margins, which pose significant risks independent of the housing market's performance. Want More Context? 🔎

Reddit (NYSE: RDDT) has become one of the world's most visited websites, leveraging its focused subreddits for targeted advertising without cookie tracking, leading to significant monetization and growth. With a staggering 260% stock increase over the past year, Reddit's market cap has reached $45 billion, raising questions about whether it's still a viable growth investment. Want More Context? 🔎