Asian Stocks Slide as Oil Prices Rise on Hormuz Tensions

Asian stocks mostly fell Tuesday following Wall Street losses, while U.S. Treasury yields paused near their highest level in about two decades. Oil prices climbed amid uncertainties over U.S.-Iran talks and the potential reopening of the Strait of Hormuz. The S&P 500 slipped 0.8% Monday, with the Dow and Nasdaq also declining. The 10-year Treasury yield hovered around 5.25%, its highest since 2007, as investors worried about inflation and rising U.S. government debt. Brent crude rose 1.8% to $99.63 per barrel. Japan's Nikkei 225 lost 1.2%, while South Korea, Hong Kong, and Taiwan also fell. Hong Kong-traded shares of Shein dropped 11.7% after its quarterly profit fell 67%. China's Shanghai Composite edged up 0.1% following government policy discussions.