Regional equities decline as Wall Street tech losses and higher crude costs dampen investor sentiment.
Asian markets fell on Wednesday, mirroring losses in U.S. technology shares and semiconductor stocks. The retreat followed a broader pullback in global risk assets, driven by concerns over elevated oil prices and their potential impact on inflation and economic growth.
Prior sessions saw modest gains in regional benchmarks, but overnight declines in major U.S. tech names, including AI-related equities, weighed on sentiment. Crude oil prices remained near multi-week highs, adding to caution among investors.
Gold prices slipped below $4,500 per ounce after recent volatility, reflecting shifting demand amid rising bond yields and a stronger U.S. dollar.