Stock market today: Asian shares are mixed, taking hot US inflation data in stride

Asian shares are mixed after U.S. stocks fell on worries that what seemed like a blip in the battle to bring down inflation is turning into a troubling trend. South Korean shares were little changed after the ruling conservative party suffered a crushing defeat in a parliamentary election. Oil prices edged higher and U.S. futures were flat. On Wednesday, the S&P 500 lost 0.9% and the Dow Jones Industrial Average gave back 1.1%. The Nasdaq composite fell 0.8%. Traders pulled back on bets for coming cuts to interest rates by the Federal Reserve following a third straight inflation report that came in hotter than expected.