Asian stocks face declines after US tech selloff hits Nasdaq 100

Asian stocks were headed for broad declines Tuesday after a technology-led Wall Street selloff outweighed a drop in oil prices. Futures for Japan and South Korea pointed lower, while Australian contracts posted a slight gain. US contracts were little changed after semiconductor companies pulled the Nasdaq 100 Index down nearly 1%. Nvidia Corp. extended its decline to a seventh consecutive session ahead of earnings this week, marking its longest losing streak since 2022. Traders were also weighing Treasury Secretary Scott Bessent’s plan to isolate Iran from the global economy.

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