Asian stock markets lost more than $700 billion in market value as investors reacted to multiple global risks. The sell-off followed a decline in U.S. tech stocks, renewed concerns over AI spending, and Brent crude oil climbing above $100. Markets were also pressured by fresh U.S. tariffs of up to 12.5% on 60 countries, reports that Iran rejected a U.S.-backed ceasefire proposal, and Japan’s inflation rising to a six-month high, fueling expectations of further Bank of Japan policy tightening.
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