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AP National Business

Asian shares track Wall St lower as oil prices press higher

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Published 10:00 PM

By ELAINE KURTENBACH
AP Business Writer

Stocks have fallen in Asia following a retreat on Wall Street as crude oil prices rose sharply. Tokyo, Hong Kong and Shanghai were lower while Sydney edged higher. U.S. futures rose and U.S. benchmark crude oil was trading near $116 per barrel. On Wednesday, the S&P 500 lost 1.2%, the Dow Jones Industrial Average fell 1.3% and the Nasdaq fell 1.3%. Energy stocks rose along with crude oil prices. Bond yields eased back. U.S. President Joe Biden headed to Europe for an emergency NATO meeting Thursday, where sanctions and the Russian oil embargo will likely top the agenda.

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