Asia stocks follow Wall St lower ahead of US inflation data

AP Business Writer

BEIJING (AP) — Asian stock markets have followed Wall Street lower ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus. Shanghai, Tokyo, Hong Kong and Sydney all retreated. Wall Street’s benchmark S&P 500 index fell 0.7%. Investors had pushed up stocks after anxiety eased about the coronavirus’s latest variant. Investors were looking ahead to U.S. inflation data for November. Fed officials said earlier they were ready to wind down bond purchases and other stimulus sooner if needed to cool inflation, which hit a 30-year high in October.

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