Asian stock markets followed Wall Street lower on Thursday after investors saw minutes from a Federal Reserve meeting as a sign the U.S. central bank might hike interest rates faster to cool inflation.Shanghai, Tokyo, Hong Kong and Sydney retreated. Oil prices fell. On Wednesday, Wall Street’s benchmark S&P 500 index fell by its biggest daily margin in four months.Notes released Thursday from the Fed meeting last month showed policymakers believe the U.S. job market is nearly healthy enough that ultra-low interest rates are no longer needed. Traders took that as a sign the Fed might be more aggressive about rolling back stimulus that is boosting stock prices.
The report “bludgeoned the markets” by upsetting expectations that earlier Fed plans were locked in, said Vishnu Varathan of Mizuho Bank in a report.
The Shanghai Composite Index slid 0.7% to 3,571.18 and the Nikkei 225 in Tokyo tumbled 2.1% to 28,721.49
