Asian shares were mostly lower Friday after Wall Street retreated following strong economic reports that raised the possibility of interest rates staying painfully high.Japan’s Nikkei 225 index lost 1.2% to 38,623.78 and the Hang Seng in Hong Kong fell 0.4% to 18,798.89.
Treasury yields cranked up the pressure following the stronger-than-expected reports on the U.S. economy, which forced traders to rethink bets about when the Federal Reserve could offer relief to financial markets through lower interest rates. VF Corp., the company behind The North Face, Vans, Timberland and other brands, fell 2.9% after reporting a loss for the latest quarter, along with weaker revenue than analysts expected.
Concern has grown that Wall Street’s frenzy around the potential for AI has created a bubble where prices have soared too high and expectations have grown too tough. But Nvidia’s continued skyrocketing growth tamped down some of the criticism.
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