Hong Kong and China stocks tumble as property sector selloff sparks investor concerns

Hong Kong stocks, led by the Hang Seng index, fell over 2% due to a selloff in the property sector, with real estate firm Country Garden Holdings leading losses. Asian markets, including Japan's Nikkei 225 and South Korea's Kospi, also experienced declines. Meanwhile, energy stocks emerged as the best-performing sector in the S&P 500, outperforming technology stocks since June 30. The dollar index is on track for its fourth consecutive week of gains, and the producer price index rose more than expected in July.