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Asian stocks fall ahead of U.S. inflation data

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Asian stocks followed Wall Street lower Wednesday ahead of U.S. inflation data that traders worry will show upward pressure on prices still is too strong for the U.S. Federal Reserve to ease off interest rate hikes.

Wall Street's benchmark S&P 500 index lost 0.4% on Tuesday for its fourth daily decline following disappointing earnings reports.

On Wall Street, the S&P 500 fell to 4,122.47 while traders waited for more evidence of how aggressively the Fed might pursue more rate hikes. The Dow slipped 0.2% to close at 32,774.41. The Nasdaq dropped 1.2% to 12,493.93. The Russell 2000 ended down 1.5%, at 1,912.89.

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