Asian stocks fall after Fed discusses cut in US stimulus

Asian stock markets have declined after the Federal Reserve discussed a possible reduction in U.S. stimulus and Japanese officials recommended declaring a coronavirus state of emergency during the Olympics

BEIJING -- Asian stock markets fell Thursday after the Federal Reserve talked about possibly reducing U.S. economic stimulus and Japanese officials prepared to declare a coronavirus state of emergency during the Olympics due to a surge in infections. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. Sydney gained. Also Thursday, South Korea reported a one-day record increase of 1,275 new coronavirus infections, adding to the region's anxiety about disease risks. Overnight, Wall Street closed at a new high, propelled by gains for technology, industrial and health care stocks.