Global tech selloff deepens as Chinese Index sinks 30% from high

Losses in Taiwan Semiconductor Manufacturing Co. helped send MSCI Inc.’s gauge of Asian tech stocks to its biggest drop since Feb. 26.

THE worldwide slump in technology stocks deepened on Tuesday, with fresh signs of regulatory scrutiny in China adding to investor angst over inflation and stretched valuations.

The Hang Seng Tech Index sank as much as 4.5%, extending its tumble from a February high to about 30%.

Meituan paced declines after the Chinese e-commerce giant’s business practices were criticized by an influential consumer advocacy group, just days after the company’s CEO shared and then deleted a poem on social media that some interpreted as a veiled criticism of Beijing.