Stock market today: Asian shares track Wall Street's slide on worries over interest rates

Asian shares have retreated after strong reports on the U.S. economy raised the possibility that interest rates may stay painfully high. U.S. futures edged higher and oil prices also rose. On Thursday, the S&P 500 fell 0.7% and pulled further from its record set earlier this week. The Dow Jones Industrial Average tumbled more than 600 points, and the Nasdaq composite slipped 0.4%. Stocks fell as higher Treasury yields cranked up the pressure. Reports showed accelerating growth for U.S. business activity and a resilient job market. Worries about high rates hit dividend-paying stocks in particular.