Stock market today: Asian shares fall as Wall Street retreats, ending record-setting rally

Asian shares have slipped after Wall Street slammed the brakes on its big rally following disappointing corporate profit reports and warnings that the market had simply gone too far, too fast. U.S. futures rose while oil prices dipped. The Japanese benchmark fell 1.6%, with Toyota leading losses following an announcement it was recalling 1 million vehicles. The S&P 500 fell 1.5% Wednesday for its worst loss since beginning a monster-sized run shortly before Halloween. The Dow dropped 1.3% from its record high, while the Nasdaq composite sank 1.5%. A pair of economic reports were also stronger than expected, and a cooler-than-expected report on inflation in Britain helped Treasury yields ease.