Asian stocks waver as oil climbs on Iran tensions and Nvidia earnings loom

Asian stocks fluctuated Tuesday while oil edged up as investors weighed a US plan for the "economic asphyxiation" of Iran and awaited Nvidia earnings, with tech firms struggling after another down day on Wall Street. Treasury Secretary Scott Bessent announced the White House's "economic D-Day" on Iran, threatening to target countries trading with it, as talks to reopen the Strait of Hormuz stalled and oil prices rose for most of August, fanning inflation fears. Both main oil contracts fell over two percent Monday but ticked higher in early Asian trade, while tech-rich Seoul sank over two percent as chipmakers retreated. Nvidia's results are seen as a bellwether for the AI boom, with analysts warning even strong figures may not justify high expectations.