Asian shares fall as rising energy costs fan inflation fears

By ELAINE KURTENBACH
AP Business Writer

Shares have fallen in Asia as surging prices of oil, coal and other energy fan fears over inflation. Benchmarks declined in Tokyo, Hong Kong and Shanghai. Oil prices advanced, having closed above $80 per barrel on Monday. On Wall Street, stocks closed broadly lower, with the S&P 500 down 0.7%. The Dow Jones Industrial Average also fell 0.7% and the Nasdaq fell 0.6%. Most sectors finished in the red. Costs of oil, coal and natural gas have surged, adding to price pressures that might lead the Federal Reserve and other central banks to pull back more quickly on their support for markets.