Asian Stocks Slide as Wall Street Retreats from All-Time High

Asian stock markets slid on Wednesday after Wall Street retreated from its all-time high. The Kospi in South Korea led the decline, dropping 5.7% to 6,487.34.

Samsung Electronics and SK Hynix, two companies that benefited from the AI boom, tracked losses for their U.S. rivals, falling 7.5% and 8.8%, respectively.

The Nikkei 225 in Tokyo sank 3.2% to 65,332.04 due to concerns over rising bond yields and selling of tech shares.

Brent crude oil prices rose 0.6% to $91.57 per barrel, while U.S. benchmark crude gained 0.7% to $84.66 per barrel, amid uncertainty about a deal between the United States and Iran to allow oil tankers to exit the Persian Gulf freely.