Shares were mostly lower in Asia on Wednesday after a decline on Wall Street as traders returned from a long holiday weekend.Crude oil prices pushed higher, adding to inflationary pressures at a time when investors are hoping to see central banks back away from interest rate hikes.
Hong Kong's Hang Seng index sank 0.8% to 18,306.24, extending losses as the market eases back from gains fueled by recent stimulus measures for the ailing Chinese property market.On Tuesday, the S&P 500 fell 0.4%, to 4,496.83, while the Dow Jones Industrial Average declined 0.6% to 34,641.97. The Nasdaq slipped 0.1% to 14,020.95, while the Russell 2000 slid 2.1% to 1,880.45.
Early Wednesday, U.S. benchmark crude oil was up 1 cent at $86.70 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.44 on Tuesday. Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. DocuSign, GameStop, Dave & Buster’s and Kroger are set to report their most recent quarterly financial results this week.
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