Tech shares in Asia tumbled on Tuesday, following a sharp overnight sell-off in stocks such as Facebook, Apple and Amazon on Wall Street. Shares of Apple suppliers in Asia were largely lower on Tuesday, after the tech giant's stock dropped overnight on the back of a Wall Street Journal report that Apple had slashed orders for its new iPhone models.

In Taiwan, contract manufacturing giant Hon Hai Precision, better known as Foxconn, fell 3.27 percent on the day while iPhone assembler Pegatron declined 1.71 percent. Over in Japan, shares of electronic parts maker TDK slipped by 1.92 percent while component supplier Murata Manufacturing declined by 3.53 percent.

FAANG shares enter bear market

On Wall Street, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — all closed in bear market territory on Monday. Those stocks had already fallen steadily over the last 6 weeks as the companies delivered disappointing earnings and mixed forecasts. Wall Street defines a bear market as a fall of 20 percent or more from a stock's 52-week high.

Tech rout