Asian stocks swing lower as tech rout deepens, oil stays below $80
What's new: South Korea's Kospi fell more than 3% as SK hynix and Samsung slid, while crude held losses after progress in US-Iran talks.
Asian equities traded unevenly Tuesday after a tech-led Wall Street sell-off revived doubts about lofty AI valuations, while oil remained under pressure on signs of progress in US-Iran talks. South Korea's Kospi dropped more than 3%, dragged by sharp losses in chipmakers SK hynix and Samsung. Tokyo also fell, with SoftBank down more than 7% and Tokyo Electron lower. Taipei and Shanghai declined, while Hong Kong and Sydney were flat and Singapore, Wellington and Manila edged up. The weaker session followed a more than 1% drop in the Nasdaq as Amazon, Nvidia and Microsoft fell. Oil prices edged up but stayed below $80 after the US Treasury temporarily eased Iran sanctions to allow crude production, sales and deliveries.