Asian stocks fall as Nvidia earnings test AI rally

Asian stocks fell Tuesday following a U.S. chip selloff, as investors awaited Nvidia's earnings and weighed Washington's sanctions threat against Iran. South Korea's KOSPI led losses, falling up to 4.3%, while Taiwan stocks dropped 1.2%. Chipmakers Samsung, SK Hynix, and TSMC declined. Nvidia's results Wednesday could sway the volatile AI trade, with the KOSPI entering bear market territory despite a 55.5% yearly gain. Investors also awaited Fed Chair Kevin Warsh's Jackson Hole speech Friday. Philippine and Thai stocks fell, while Indonesian and Malaysian markets closed for a holiday. Oil prices were flat, and the dollar climbed from three-month lows.