Asia stocks follow Wall St down as Fed fights inflation


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BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices gained. Wall Street's benchmark S&P 500 index fell 1.7% on Wednesday to its lowest level in two months after the Fed raised its benchmark lending rate by 0.75 percentage points, three times its usual margin. The Fed said it expects that rate to be a full percentage point higher by the end of the year than it did three...