Asian stocks tumbled after turbulence on Wall Street, where a brief Nvidia Corp.-led rally quickly faded and investors pulled back from riskier assets such as cryptocurrencies.

Equities opened lower in Japan, South Korea and Australia, after Wall Street benchmarks erased earlier gains and tumbled, led by technology stocks. The sharp reversal came as lingering concerns over stretched valuations and heavy investment spending curbed a rally fueled by Nvidia’s upbeat earnings forecast, with the AI bellwether’s shares sliding 3.2%.

Attention is also on Japan, where the government is set to unveil a stimulus package. The yen was steady against the dollar as Finance Minister Satsuki Katayama said Japan will consider currency intervention among its options if there are excessive moves in the fo

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