Asian shares decline, echoing broad slump on Wall Street

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares have retreated, echoing a broad decline on Wall Street and driven by worries about how the war in Ukraine may push prices for oil and other commodities higher. Japan unveiled another supplementary budget late Tuesday aimed at helping poor families and small businesses as the nation copes with rising prices and a weakening yen. The Bank of Japan is holding a two-day policy board meeting. The central bank has sent a clear message against higher interest rates, aiming to keep 10-year-bond yields within 0.25%. U.S. benchmarks were weighed down by sharp declines in Big Tech stocks that left the Nasdaq composite with its worst drop since September 2020.