Tech leads losses as Asian stocks track Wall Street selloff

HONG KONG: Technology stocks were back in the crosshairs of investors on Wednesday (Aug 19), taking another heavy blow from a spike in bond yields, rising oil prices, persistent inflation and dimming hopes for a deal to reopen the Strait of Hormuz.The selloff tracked losses on Wall Street, where firms heavily invested in AI and chips were sharply lower, staunching a recent recovery in the sector in recent weeks following a crushing July.With the crisis in the Middle East showing few signs of ending - United States and Iranian officials have dug in and appear prepared for an extended standoff - crude prices are pushing back higher as traders factor in the crucial strait staying closed.That has stoked inflation expectations and sent US government debt costs soaring. The yield on a 30-year US