Stock market today: Asian shares mostly fall as dive for Big Tech stocks hits Wall St rally

Asian shares are mostly lower, with Tokyo's benchmark dipping more than 2%, after Wall Street’s record-breaking rally slammed into a wall of worries over potentially worsening trade tensions with China. Shares fell in the rest of Asia, except for Hong Kong and Shanghai. On Wall Street, Big Tech heavyweights dragged the Nasdaq composite to a loss of 2.8%, its worst drop since 2022. The S&P 500 dropped 1.4%. The market’s spotlight was squarely on chip companies, which tumbled after a report from Bloomberg News said President Joe Biden is considering the most severe trade restrictions available if companies like the Netherlands’ ASML and Japan’s Tokyo Electron continue to ship advanced semiconductor technology to China. But the Dow added 0.6%, to its record set a day earlier.