Asian stocks fall on concern about virus, tighter Fed policy

Asian stock markets have followed Wall Street lower amid concern about the coronavirus’s latest variant and tighter Federal Reserve policy

BEIJING -- Asian stock markets followed Wall Street lower on Monday amid concern about the coronavirus's latest variant and tighter Federal Reserve policy.

Shanghai, Tokyo, Hong Kong and Sydney retreated at the start of a trading week that will be shortened by the Christmas holiday.

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 spread of the omicron variant has fueled fears that renewed curbs on business and travel might worsen supply chain disruptions and boost inflation.