Shares slipped Monday in most Asian markets after Wall Street benchmarks ended last week with a decline.
Tokyo’s Nikkei 225 NIK, +0.22% declined 0.3% and the Hang Seng HSI, -1.61% in Hong Kong lost 1.8%. In Seoul, the Kospi 180721, +0.07% edged 0.1% lower, while the S&P/ASX 200 XJO, +0.25% picked up 0.2%. The Shanghai Composite index SHCOMP, +0.33% gained 0.1%.Japan reported its wholesale prices were near a 13-year high in August, adding to concerns over inflation as the country prepares for a leadership transition.
Price pressures add to the likelihood that the Federal Reserve and other central banks might move sooner to nudge interest rates up from the ultra-low levels they have been kept at to help fend off the worst impacts of the pandemic. The S&P 500 SPX, -0.77% fell 34.70 points to 4,458.58. The Dow Jones Industrial Average DJIA, -0.78% lost 0.8% to 34,607.72. The tech-heavy Nasdaq composite COMP, -0.87% sank 0.9%, to 15,115.49.U.S. inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.
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