Asian markets are mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity.

Wall Street closed in negative territory on Monday in light volume at the top of a holiday-shortened week in the second-to-last trading session of an eventful year in which all three indexes posted strong double-digit gains.

Good news for the U.S. economy is back to being bad for Wall Street as the S&P 500, Dow Jones industrial average and Nasdaq all post losses.

Rising technology stocks helped U.S. indexes recover more of their holiday-season slide that bridged the new year.

Asian stocks are mostly lower after U.S. stock indexes finished mixed a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected

U.S. stocks are drifting higher as Wall Street’s superstar, Nvidia, steams toward another record. The S&P 500 was 0.4% higher in early trading Tuesday. The index is on track for a third straight gain following a five-day swoon that bridged the new year.

Wall Street is drifting and making smaller moves on Wednesday, a day after strong reports on the economy stirred up worries that inflation and interest rates may stay higher than expected. The S&P 500 was edging down by 0.