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Asian shares mixed, extending Wall Street losses

AP Business Writer

BANGKOK (AP) — Shares are mixed in Asia after Wall Street logged its worst week since the pandemic began in 2020. Benchmarks declined in Hong Kong, Seoul and Sydney but rose in Tokyo. Shanghai was little changed and U.S. futures were higher. Investors have been growing increasingly worried about how aggressively the Federal Reserve might act to cool rising inflation. At the same time, outbreaks of the omicron variant of the coronavirus threaten to slow recoveries from the crisis. The benchmark S&P 500 sank 1.9% on Friday, while the tech-heavy Nasdaq composite index dipped 2.7%. It is now more than 10% below its most recent high, in what Wall Street considers a market correction. 

Associated Press

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