Asian shares track Wall Street decline on hot economic data
The Dow Jones Industrial Average dropped 1 to 32,816.92, while the Nasdaq composite lost 1.7 to 11,394.94.Higher rates can drive down inflation, but they raise the risk of a recession.The measure of inflation preferred by the Fed, reported Friday, said prices were 4.7 higher in January than a year earlier, after ignoring costs for food and energy because they can swing more quickly than others.