Asian Stocks Track Wall Street Lower on US CPI: Markets Wrap

Asian stocks dropped following losses on Wall Street as US inflation quickened, showing the impact of higher oil prices since the war in Iran started.

The MSCI Asia Pacific Index fell 0.4% with South Korean shares declining 2.4%. US equity-index futures also slipped after the S&P 500 Index and the Nasdaq 100 Index retreated on Tuesday, with a gauge of chipmakers slumping 3% following a record-breaking rally.