Stock market today: Asian shares mostly lower after Wall Street retreat deepens

Shares in Asia are mostly higher, shrugging off a sharp decline on Wall Street that took benchmarks back to where they were in June. Stocks rose in Hong Kong, Shanghai and Tokyo and fell in Sydney. The S&P 500 tumbled 1.5% on Tuesday. The Dow dropped 388 points, and the Nasdaq composite lost 1.6%. September is on track to be the worst month of the year for stocks, by far, as the realization sets in that the Federal Reserve will keep interest rates high for a longer time than earlier hoped. Treasury yields inched higher following a mixed set of economic reports. They are near their highest levels in more than a decade.