Asian stocks fall after Wall Street's tech selloff

yen: The yen is Japan’s national currency and a commonly used safe-haven asset during periods of global risk aversion. It strengthened as investors reduced exposure to equities and sought protection amid technology-market losses, geopolitical concerns, and falling Treasury yields. Treasuries: U.S. Treasuries are government debt securities that often attract demand during periods of market stress. Investors moved into Treasuries during the technology rout, driving yields lower as concerns about AI-related risks increased. Wall Street: Wall Street refers to the U.S. financial markets, particularly major stock exchanges and investment institutions. Its technology-led selloff set the direction for broader Asian declines as investors reassessed the sustainability and financing costs of the AI investment boom. Asian stocks: Asian stocks are equity markets across the Asia-Pacific region, including major markets in Japan, South Korea, Hong Kong, and mainland China. They fell as technology shares tracked Wall Street losses, while investors shifted toward defensive assets amid concerns about artificial-intelligence investment and financing risks. Rates: Expectations of higher-for-longer interest rates added pressure to technology stocks because elevated borrowing costs reduce the appeal of growth-oriented valuations. Safe havens: Treasuries and the yen benefited from defensive positioning as investors moved away from riskier equities. Market sentiment: The selloff extended across global technology shares as investors questioned the scale, cost, and financing risks of artificial-intelligence spending.