Asian stocks fall for 2nd day after new Wall St record

Asian stock markets have declined for a second day after gains for U.S. tech stocks pushed Wall Street to a new high and the World Bank raised its forecast for China's economic growth

BEIJING -- Asian stock markets declined for a second day Tuesday as investors looked ahead to U.S. employment data for indications of possible inflation pressures. Market benchmarks in Shanghai, Tokyo and Hong Kong retreated. Overnight, Wall Street's benchmark S&P 500 index rose 0.2% to a record as gains for Facebook, Nvidia and other tech stocks offset losses for other industries. Investors are swinging between optimism about a global economic recovery underpinned by coronavirus vaccinations and worry that central banks might feel pressure to withdraw stimulus to cool rising inflation pressures.