Asian shares mostly lower after retreat on Wall Street

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares have fallen in cautious trading after stocks on Wall Street sank to a new low for the year. Tokyo, Shanghai, Seoul and Sydney were lower while Hong Kong edged higher. Technology shares led the decline Tuesday on Wall Street. Increasing coronavirus infections in Asia, linked to the spread of omicron, are alarming policy makers. Investors are wary given expectations that the U.S. Federal Reserve will act more aggressively than expected to tackle rising inflation. The S&P 500 fell 1.8%, with about 90% of the stocks in the benchmark index closing in the red. The Nasdaq, which is heavily weighted with technology stocks, slid 2.6%. The Dow Jones Industrial Average fell 1.5%.