BEIJING — Asian stock markets followed Wall Street lower on Monday amid concern about the coronavirus’s latest variant and tighter Federal Reserve policy.
Wall Street fell Friday as traders took money off the table after the Fed indicated it would fight inflation by speeding up withdrawal of economic stimulus. The U.S. government warned Sunday of a possible surge of “breakthrough infections” due to Americans traveling for the Christmas and New Year holidays.
On Friday, Wall Street’s benchmark S&P 500 index SPX, -1.03% fell 1% to 4,620.64, turning in its third losing week out of the past four. The index is 2% below its all-time high and up 23% for the year.
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