Asian shares fall with oil at multi-year highs, US yields surge

HONG KONG: Asian shares dropped on Wednesday and U.S. benchmark yields rose to a three-and-a-half month top as investors stayed jittery about inflation with oil prices reaching new multi-year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, while Japan's Nikkei lost 0.69%. Futures also pointed to a lower open in Europe with the pan-region Euro Stoxx 50 futures off 0.72% in early trade and FTSE futures down 0.6%. U.S. stock futures, the S&P 500 e-minis shed 0.4%.