Asian Markets Mixed as US Stocks Drop on Persistently High Inflation; Treasury Yields Rise
• Asian shares mixed after US stocks fall on hotter-than-expected inflation data
• South Korean shares little changed after ruling party loses parliamentary election
• Treasury yields leap and traders cut bets on Fed rate cuts as inflation remains stubbornly high
• Higher interest rates hurt stocks like real estate and utilities that are sensitive to rates
• Delta reports better earnings but doesn't raise full-year outlook; oil prices edge up