Asian shares have dropped after Wall Street started 2024 with a slump, giving back some of its big gains from last year. U.S. futures were lower and oil prices were little changed. South Korea’s benchmark slumped over 2% and Hong Kong’s Hang Seng lost nearly 1%. On Tuesday, the S&P 500 fell 0.6%. The Dow edged 0.1% higher and the Nasdaq composite lost 1.6%. Some of the market’s sharper drops came from stocks that were last year’s biggest winners. Apple had its worst day in nearly five months. Much of Wall Street had been preparing for at least a pause in the rally that had carried the S&P 500 to nine straight winning weeks.
