Asian Equities Slide Amid Oil Price Surge

Asian stock markets declined on Tuesday, following an overnight pullback on Wall Street. The downturn was largely driven by rising crude oil prices, which were fueled by renewed Middle East hostilities.

Rising inflation concerns and rate-hike expectations also contributed to the decline in Asian equities. Technology and artificial intelligence-related shares suffered significant losses as a result of this trend.

The iShares China Large-Cap ETF (FXI) was among the notable losers, but no specific details about its performance were provided in the source.