Asian stocks fall as investors await U.S. profits, inflation
2 years, 8 months ago

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

Associated Press  

BEIJING — Asian stock markets fell again Tuesday as investors waited for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on Ukraine. Wall Street’s benchmark S&P 500 index slid 1.7% on Monday 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 eyeing the situation in Ukraine for signs that could trigger further risk-off price action.” The Shanghai Composite Index slumped 0.7% to 3,146.11 and the Nikkei 225 in Tokyo lost 1.4% to 26,451.13. Oil prices have fallen back on expectations of weaker Chinese demand after most businesses in Shanghai were shut down and controls imposed on other industrial centers to contain coronavirus outbreaks.

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