Asian equities fell sharply on Thursday after a Wall Street decline halted a nine‑day S&P 500 rally. Higher U.S. Treasury yields, a dip in crude oil and lingering US‑Iran tensions weighed on sentiment, while a handful of stocks such as GameStop and Macy's posted modest gains.

South Korea’s KOSPI drops 1.8% as the won weakens

In Seoul,traders at Hana Bank watched the Korea Composite Stock Price Index tumble 1.8 percent to 8,639.41, while foreign‑exchange screens showed the won slipping against the dollar. The decline mirrors a broader regional sell‑off and underscores how currency pressure can amplify equity weakness.

Japan’s Nikkei slides 1.4% on tech rout, SoftBank loses 11%

Japan’s Nikkei 225 fell 1.4 percent to 67,470.69, led by a broad decline in technology shares. softBank Group shed more than 11 percent, and Shin‑Etsu Chemical dropped close to 4 percent, highlghting the vulnerability of high‑growth Japanese firms to higher borowing costs.

Hong Kong and Shanghai indices dip as oil prices retreat

The Hang Seng lost 1.6 percent to 25,234.24 and Shanghai’s composite fell 0.8 percent to 4,052.89.. Brent crude slipped 92 cents to $96.89 per barrel and U.S. WTI settled at $95.19,down 83 cents, easing some inflationary pressure but keeping energy markets volatile amid the US‑Iran conflict.

US market moves trigger Asian sell‑off: S&P 500 ends ten‑day gain

The US S&P 500 closed 0.7 percent lower at 7,553.68, ending a ten‑day winning streak, while the Dow fell 1.2 percent to 50,687.07 and the Nasdaq slipped 0.9 percent to 26,853.98. According to the source, Palo Alto Networks led the decline, dropping 5.6 percent despite beating earnings expectations.

Yield spike to 4.49% fuels concerns for small‑cap stocks

The 10‑year Treasury yield rose to 4.49 percent from 4.46 percent, well above the pre‑Middle‑East‑conflict level of 3.97 percent. As the source notes, the Russell 2000 fell 1.3 percent, outpacing larger‑cap benchmarks and suggesting that higher borrowing costs could hit small‑cap firms harder.

Who are the rare gainers? GameStop’s 6% surge and Macy’s modest rise

Amid the turbulence, GameStop surged 6 percent after announcing a 14 percent year‑over‑year revenue increase and a $2 billion share‑buyback program. retailer Macy’s added 0.5 percent after reporting quarterly profit that exceeded expectations, showing that selective corporate news can still lift individual stocks.

What remains unclear about US‑Iran tensions?

The source reports that the ongoing war between the United States and Iran could spur further volatility in energy markets, but it does not specify the likely timeline or the scale of any direct supply disruptions. Additionally, the impact of the modest oil price decline on longer‑term inflation expectations remains unverified.