Global Market Today: Asian stocks fall on tech selloff, oil trades above $100

Asian stocks fell on a global tech selloff, with the MSCI Asia Pacific Index down 0.8 percent after the S&P 500 dropped 1.2 percent and the Nasdaq 100 lost 1.9 percent overnight, its worst session since April 2025. Brent crude traded above 100 dollars per barrel, the highest since May, driven by escalating Middle East tensions including attacks on Saudi oil tankers in the Red Sea and threats to shipping through the Strait of Hormuz. Rising oil prices have revived inflation concerns, with money markets now fully pricing in a Federal Reserve rate hike by September and the ECB also laying the groundwork for a possible September increase.