Asian shares mostly slip amid caution about the war in Iran

Asian shares mostly fell as enthusiasm cooled and markets weighed uncertainty around efforts to end the war in Iran. In Japan, the Nikkei 225 dropped 3.6% to 69,788.38, while Australia’s S&P/ASX 200 slipped 0.3% to 8,787.00. South Korea’s Kospi fell 1.0% to 8,203.84, and Hong Kong’s Hang Seng slid 2.1% to 23,261.96 as the Shanghai Composite declined 1.3% to 4,107.18. U.S. markets ended mixed on Monday, with the S&P 500 down 0.4% and the Nasdaq down 1.3%, after oil prices eased and Big Tech retreated. Oil fell after weekend talks between the United States and Iran, with U.S. Vice President JD Vance calling the talks a “good foundation for a successful final deal.” On Tuesday, U.S. crude dropped $1.14 to $72.72 per barrel, and Brent fell $1.31 to $76.59. Treasury yields rose as markets speculated the Federal Reserve could hike rates again; the 10-year yield climbed to 4.50%. SpaceX shares fell 16.4% to $154.60.