Asian Shares Skid as US Tech Firms Face More Scrutiny

Another weak spot was Nvidia, which fell 7.8 percent after the chipmaker temporarily suspended self-driving tests across the globe after an Uber Technologies Inc autonomous vehicle killed a woman. Investors rotated out of the tech sector, which had long outperformed the market on hopes of new technologies such as artificial intelligence (AI) and internet of things (IoT). "There is a sense that there will be more regulations on Facebook or FANG and that the cost of compliance will increase," said Nobuhiko Kuramochi, chief strategist at Mizuho Securities. The so-called FANG, a quartet of tech stocks that include Facebook, Amazon.com, Netflix and Alphabet, have been a darling of many investors.