Asian stocks, oil prices fall sharply as inflation concerns mount

Investors fear a swift consumer demand rebound coupled with trillions of dollars in stimulus measures may drive up inflation.

Asian share markets slipped on Friday after a spike in global bond yields soured sentiment towards richly priced tech stocks, while concerns that a recent run-up in oil prices may not be fully justified by the level of demand sent crude tumbling overnight. Having plunged 7 percent in London and New York, Brent crude futures managed a feeble bounce of just 11 cents to $63.39 a barrel, while United States crude added 6 cents to $60.06. The retreat wiped out four weeks of gains in a single session.