Asian stocks fall as investors await U.S. profits, inflation

By JOE McDONALD
AP Business Writers

BEIJING (AP) — Asian stock markets are lower as investors wait for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on Ukraine. Shanghai, Tokyo, Hong Kong and Seoul fell. Oil prices rose more than $1.80 per barrel. Wall Street’s benchmark S&P 500 index slid 1.7% as investors waited for a new round of corporate results to see how profits are affected by inflation that is at a four-decade high. Markets are uneasy about plans by the Federal Reserve and other central banks to try to cool inflation by rolling back ultra-low interest rates.