Asian stocks tumbled on Thursday, with Chinese equities entering a bear market as the CSI 300 index slid 2%, marking a 20% decline from its June peak. Other regional benchmarks also fell significantly, including Japan's Nikkei 225 down 3%, South Korea's Kospi down 3.5%, Taiwan's benchmark down 2%, and Hong Kong's Hang Seng down 3%.

Technology shares led the losses, with Chinese technology stocks in Hong Kong falling over 40% from their peak. Brent crude climbed above $112 a barrel, and WTI crude topped $100. Bitcoin retreated from above $84,000 to around $82,000, while gold fell over 1% to below $4,100 an ounce, and silver dropped over 3.5% to around $55. Nasdaq 100 index futures declined almost 2%, and the Cboe Volatility Index (VIX) jumped 10% to around 18.