Asian stocks follow Wall St lower after Fed rates signal

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets have followed Wall Street lower after investors saw minutes from a Federal Reserve meeting as a sign the U.S. central bank might hike interest rates faster to cool inflation. Shanghai, Tokyo, Hong Kong and Sydney retreated. Oil prices fell. Wall Street’s benchmark S&P 500 index fell by its biggest daily margin in four months. Notes from the Fed meeting last month showed policymakers believe the U.S. job market is nearly healthy enough that ultra-low interest rates are no longer needed. Traders took that as a sign the Fed might be more aggressive about rolling back stimulus that is boosting stock prices.