Asia stock markets decline amid inflation, oil price worries

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are falling as worries about inflation set off expectations the U.S. Federal Reserve might accelerate its plans to raise interest rates. Benchmarks in Japan, Australia, South Korea and China slipped in early trading. The Fed will release minutes later in the day from its October interest-rate meeting, potentially giving investors more details on plans to start trimming bond purchases that have helped keep interest rates low. Wall Street closed mixed. President Joe Biden ordered 50 million barrels of oil released from the nation’s strategic reserve to help bring down energy costs. The move was made in concert with other big oil-consuming nations. Oil prices were mixed by midday Wednesday in Asia.