Asian Shares Slip After Wall Street Losses; Oil Drops Over 1%

Asian shares mostly fell Monday following Wall Street losses, while oil prices dropped over 1% after reaching multi-year highs last week. U.S. futures edged higher as investors awaited corporate earnings and central bank decisions. Tokyo's Nikkei slipped 0.1%, Seoul's Kospi dropped 1.1%, and Shanghai lost 0.4%, though Hong Kong edged higher. Brent crude fell 1.3% to $110.23 a barrel, retreating from Friday's $116.72 settlement, its highest since June 2022. The S&P 500 logged its second-straight weekly loss Friday. Investors are focused on earnings from AI-related companies like Alphabet, Microsoft, and Amazon this week, questioning whether massive AI investments justify high stock prices. The Federal Reserve is expected to hold rates steady, though another hike is anticipated in December. The U.S.-Iran war has severely cut oil supply, driving energy and consumer prices higher.