BEIJING (AP) – Asian stock markets fell on Monday after Wall Street ended the week on a loss amid concerns over the US Federal Reserve’s plans for more rate hikes to cool inflation.

The Hong Kong benchmark fell more than 2%. Shanghai, Seoul and Sydney also withdrew while Tokyo saw little change. Oil prices fell.

US stock indexes ended on a weekly loss after a Fed official, James Bullard, rattled investors by suggesting the central bank’s interest rate might need to be changed.