Asian Stocks Tumble After Wall Street Drops

HONG KONG (AP) — Asian stocks are tumbling after Wall Street had its worst day since early August, as a week full of economic updates got off to a weak start. Japan’s benchmark Nikkei lost over 4%. U.S. futures were lower. Rising oil supply was driving down prices, as Libya moved closer to resolving a conflict over control of the country’s oil revenue that meant its oil production may soon increase. The S&P 500’s heaviest weight, Nvidia, fell 9.5% and led to a decline in global semiconductor-related stocks on Wednesday. The S&P 500 slumped 2.1% Tuesday after a report showed U.S. manufacturing shrank again in August, weighed down by high interest rates. The Dow Jones Industrial Average dropped 1.5%. The Nasdaq composite fell 3.3%.