Asian stocks tumble amid fears about faster rate hikes

Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation. Japan's benchmark Nikkei 225 finished higher, but shares sank in Sydney, Seoul, Hong Kong and Shanghai. Chinese shares fell after officials in Beijing announced plans for a regulatory shakeup. In oil trading, benchmark crude fell but brent crude rose. Wall Street shuddered Tuesday after Fed Chairman Jerome Powell told lawmakers the central bank would keep interest rates higher if need be to fight inflation. A Fed meeting later this month is expected to result in another hike.