Asian shares decline amid omicron, Fed, Ukraine jitters

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares have fallen following a volatile day on Wall Street. Inflation-fighting measures from the Federal Reserve and the possibility of conflict between Russia and Ukraine are overhanging markets. Benchmarks fell across the region. A late-day buying spree pushed the benchmark S&P 500 index to a 0.3% gain after pulling it out of so-called correction territory _ a drop of 10% or more from its recent high. The market is waiting to hear from chair Jerome Powell on Wednesday after Fed policymakers conclude a two-day meeting and offer their latest thinking on the economy and interest rates. Some economists worry the Fed is already moving too late to combat high inflation.