As China rattles nerves, Hong Kong leads most Asian markets lower.

As traders were worried by China's new crackdown on a range of businesses, Hong Kong led a sell-off across most Asian markets Tuesday, extending the previous day's losses. Analysts say traders are concerned about new controls on China's tutorial industry, which have destroyed private education organizations, as well as future actions against tech firms and new laws for property and food delivery companies. This comes amid growing concerns about the rapidly spreading Delta coronavirus type and the sluggish introduction of vaccines, which has forced some governments to impose new lockdowns or other containment measures. Meanwhile, the Biden administration's highest-level China-US…