Asian Stocks Drop As Apple’s Price Hikes Hurt Tech Confidence; Nikkei Falls 3%, KOSPI Down 3.5%

MSCI Asia-Pacific index outside Japan falls 1.7%; Japan’s Nikkei drops 3%; and South Korea’s KOSPI declines 3.5% on Friday. Asian stocks fell from record highs on Friday after Apple raised prices, which showed the downside of strong chip demand. The Japanese yen stayed near a 40-year low, only supported by the threat of government intervention. Brent crude oil prices slipped 0.5% to $74.89 a barrel, after jumping 2% overnight because of reports of a ship attack near the Strait of Hormuz. Iran warned ships not to use routes it hasn’t approved, but more oil tankers have crossed the area with…