Asian shares sink as war, inflation hold sway on markets

Shares have fallen in Asia as uncertainty over the war in Ukraine and persistently high inflation keep their sway over markets

BANGKOK -- Shares fell Friday in Asia as uncertainty over the war in Ukraine and persistently high inflation kept their sway over markets.

Hong Kong fell 3.2% and Tokyo was 2.6% lower.

Investors are fretting over how the world economy may struggle with price pressures and slowing growth.

A plan to revoke Russia's most favored nation trade status over its invasion of Ukraine added to unease over the economic repercussions of the deepening conflict after talks between foreign ministers of the two countries failed to show any concrete progress.