diff --git a/param/reactive.py b/param/reactive.py
index bf7eb74f..36df4be0 100644
--- a/param/reactive.py
+++ b/param/reactive.py
@@ -1840,11 +1840,11 @@ def stale():
             # it from the next _lazy_resolve.
             await _close_stale(obj)
             return
-        self._current_task = task = asyncio.current_task()
         trigger = self._trigger
+        if trigger is None:
+            return
+        self._current_task = task = asyncio.current_task()
         try:
-            if trigger is None:
-                return
             if obj is None:
                 shared = self._shared
                 if shared is None:
@@ -1873,6 +1873,17 @@ def stale():
                 trigger.param.trigger('value')
         except asyncio.CancelledError:
             return
+        except Exception as e:
+            if stale():
+                return
+            self._finished_generation = generation
+            if self._dirty or self._root._dirty_obj:
+                # Ignoring as the inputs were invalidated while the async operation was running
+                return
+            # Mirror the synchronous path in _resolve.
+            # For an async generator an raised exception ends the stream.
+            self._error_state = e
+            trigger.param.trigger('value')
         finally:
             if self._current_task is task:
                 self._current_task = None
diff --git a/tests/testreactive.py b/tests/testreactive.py
index 3da645e7..9dcb799f 100644
--- a/tests/testreactive.py
+++ b/tests/testreactive.py
@@ -1069,6 +1069,114 @@ async def expensive_compute(a):
     # the superseded updates are not computed at all.
     assert call_count == 2
 
+async def test_reactive_async_error_raised_on_read():
+    async def mul(value):
+        await asyncio.sleep(0.01)
+        if value == 2:
+            raise RuntimeError('boom')
+        return 10 * value
+
+    irx = rx(1)
+    async_rx = irx.rx.pipe(mul)
+    async_rx.rx.value
+    await async_wait_until(lambda: async_rx.rx.value == 2)
+
+    irx.rx.value = 2
+    async_rx.rx.value
+
+    # The failed operation must settle the node and store the error, so it is
+    # re-raised on every read instead of leaving the node awaiting forever.
+    await async_wait_until(lambda: async_rx._error_state is not None)
+    assert not async_rx._awaiting
+    with pytest.raises(RuntimeError, match='boom'):
+        async_rx.rx.value
+
+    # A new input clears the error and the pipeline recovers.
+    irx.rx.value = 3
+    async_rx.rx.value
+    await async_wait_until(lambda: async_rx.rx.value == 6)
+
+async def test_reactive_async_error_propagates_downstream():
+    async def mul(value):
+        await asyncio.sleep(0.01)
+        raise RuntimeError('boom')
+
+    irx = rx(1)
+    downstream = irx.rx.pipe(mul) + 10
+    downstream.rx.value
+    await async_wait_until(lambda: downstream._prev._error_state is not None)
+    with pytest.raises(RuntimeError, match='boom'):
+        downstream.rx.value
+
+async def test_reactive_async_error_propagates_to_shared_branches():
+    async def compute(value):
+        await asyncio.sleep(0.01)
+        raise RuntimeError('boom')
+
+    shared = rx(1).rx.pipe(compute)
+    x_rx = shared.rx.pipe(lambda d: d['x'])
+    y_rx = shared.rx.pipe(lambda d: d['y'])
+
+    x_rx.rx.value
+    y_rx.rx.value
+    await async_wait_until(lambda: not shared._awaiting)
+    for branch in (x_rx, y_rx):
+        with pytest.raises(RuntimeError, match='boom'):
+            branch.rx.value
+
+async def test_reactive_async_gen_error_ends_stream():
+    async def gen(value):
+        for i in range(3):
+            await asyncio.sleep(0.01)
+            if i == 2:
+                raise RuntimeError('boom')
+            yield value+i
+
+    async_rx = rx(1).rx.pipe(gen)
+    async_rx.rx.value
+    await async_wait_until(lambda: async_rx._error_state is not None)
+
+    # The raise ends the generator's stream and is reported on the next read.
+    assert not async_rx._awaiting
+    with pytest.raises(RuntimeError, match='boom'):
+        async_rx.rx.value
+
+async def test_reactive_gen_error_ends_stream():
+    def gen(value):
+        yield value
+        raise RuntimeError('boom')
+
+    async_rx = rx(1).rx.pipe(gen)
+    async_rx.rx.value
+    await async_wait_until(lambda: async_rx._error_state is not None)
+    assert not async_rx._awaiting
+    with pytest.raises(RuntimeError, match='boom'):
+        async_rx.rx.value
+
+async def test_reactive_async_superseded_error_not_recorded():
+    async def mul(value):
+        await asyncio.sleep(0.02)
+        if value == 2:
+            raise RuntimeError('boom')
+        return value*2
+
+    irx = rx(1)
+    async_rx = irx.rx.pipe(mul)
+    async_rx.rx.value
+    await async_wait_until(lambda: async_rx.rx.value == 2)
+
+    irx.rx.value = 2
+    async_rx.rx.value
+    # Yield to the event loop so the failing task is suspended on its await and
+    # is superseded while in flight.
+    await asyncio.sleep(0.01)
+    irx.rx.value = 3
+    async_rx.rx.value
+
+    # The error belongs to a superseded input, so it must not poison the node.
+    await async_wait_until(lambda: async_rx.rx.value == 6)
+    assert async_rx._error_state is None
+
 @pytest.mark.parametrize('lazy', [False, True])
 def test_root_invalidation(lazy):
     arx = rx('a', lazy=lazy)