Stocks retreat in Asia as China inflation pushes higher

By ELAINE KURTENBACH
AP Business Writer

Asian shares have tracked Wall Street’s retreat, with Chinese benchmarks leading the decline after the government reported a surge in inflation in October. On Wall Street, stocks ended moderately lower on Tuesday, ending an eight-day winning streak for the market that had been fueled by strong company earnings and economic data. Tesla lost 12% after its founder Elon Musk said he would sell 10% of his holdings in the electric car maker. PayPal dropped 11% after the company’s cut its full-year outlook and revenue forecasts. General Electric shares rose 2.6% after it announced it would break into three different companies.