Asian shares dip, following sell-off on Wall Street

TOKYO: Asian shares dipped Wednesday, mirroring a sell-off on Wall Street on worries over slowing growth and falling profits.

KEEPING SCORE: Japan’s benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong’s Hang Seng lost 0.8 percent to 30,378.89. The Shanghai Composite shed 0.3 percent to 3,119.31. South Korea’s Kospi lost 0.9 percent to 2,442.06. Australia’s market was closed for Anzac Day, a public holiday. Southeast Asian shares were also mostly lower.

WALL STREET: The S&P 500 index sank 35.73 points, or 1.3 percent, to 2,634.56. The Dow Jones industrial average finished with a loss of 424.56 points, or 1.7 percent, to 24,024.13. The Nasdaq composite dropped 121.25 points, or 1.7 percent, to 7,007.35.

YIELDS QUESTION: Bond prices slipped again Tuesday. The yield on the 10-year Treasury note rose to 2.99 percent from 2.98 percent. Earlier it peaked at 3 percent for the first time since January 2014. Low-interest rates have played an important role in the economic recovery of the last decade, and the yield on the 10-year note is a benchmark for many kinds of interest rates including mortgages. It’s been climbing because investors expect higher economic growth and inflation.

ENERGY: Benchmark U.S. crude oil fell 10 cents to $67.60 a barrel. It shed 1.4 percent to $67.70 a barrel in New York the previous day. Brent crude, used to price international oils, lost 15 cents to $73.71 per barrel.

CURRENCIES: The dollar inched up to 108.86 yen from 108.84 yen. The euro rose to $1.2225 from $ 1.2196.