Asian shares slide after more losses on Wall Street

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Asian shares have declined after a late-afternoon sell-off wiped out gains for stocks on Wall Street. Tokyo fell 1.4% after Toyota Motor Corp. announced production cuts due to parts shortages. Other major regional markets also fell. Oil prices slipped, with the U.S. benchmark crude down 2.3%. On Thursday, the S&P 500 lost 1.1% and the Dow Jones Industrial Average fell 0.9%. The Nasdaq slumped 1.3% as technology stocks dropped. Investors are bracing for higher interest rates and shares in pricey tech companies and other expensive growth stocks look relatively less attractive. Stocks are headed for weekly losses in what has so far been a losing month. Oil prices also fell, with the U.S. benchmark crude down 2.3%.