Stock market today: Asian stocks follow Wall St tumble. Most markets in the region close for holiday

Asian stocks dropped on May 1, 2024, following a downturn in Wall Street, with most regional markets closed for a holiday. The U.S. stock market experienced its worst month since September, with significant indices like the S&P 500 and Nasdaq recording losses. Factors such as higher wage gains feeding inflation fears and disappointing corporate earnings influenced the market dynamics. Additionally, global shares traded mostly higher in anticipation of key reports, while U.S. futures showed mixed results.