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The Hang Seng Index tumbled 0.8%, or 200 points, to around 24,065 on Tuesday, as a selloff in technology stocks on Wall Street extended into Asia, with investors reducing exposure to artificial intelligence-related shares amid concerns over stretched valuations and the returns on heavy AI spending. Brent crude climbed
Bitcoin fell 3% to $83,098 and ethereum lost 5% to $2,564 as traders pointed to record-high Treasury yields and a stronger U.S. dollar. XRP and solana also declined in a broader crypto selloff.
U.S. Treasury Secretary Scott Bessent announced a new campaign targeting financial networks, companies and countries that help Iran generate revenue and bypass sanctions, and the news coincided with declines in USO and XLE.