U.S. business activity picked up in March, but growing fears over import tariffs and deep government spending cuts continued to weigh on sentiment and prospects for the rest of the year.

 Asian stocks stumbled on Tuesday, dragged by a slide in Chinese tech shares after a strong rally, while investors weighed the prospect of narrower-than-feared U.S. tariffs and the dollar hovered near three-week highs after upbeat economic data.

Oil prices rose on Tuesday for a fifth day on concerns global supply will tighten after the U.S. announced tariffs on countries that buy Venezuelan crude.

The dollar hit a three-week high against the yen on Tuesday and was firm across the board after some strong U.S. services data and cautious optimism on the tariff front.

Singapore’s annual core inflation rate eased to 0.6% in February, data showed on Monday, and an analyst said the lowest reading in nearly four years meant an easing was possible at the central bank’s policy review next month.

Japan’s factory activity fell at the fastest pace in a year in March, dragged by declines in production and new orders in a worrying sign for the economy, a private-sector survey showed on Monday.