Dow Jones, S&P 500 Break 4-Day Winning Streak, Asia Trades Mixed

The Dow Jones Industrial Average dropped nearly 200 points as investors assessed a sharp rise in oil prices and what it meant for inflation.

The Dow fell by 198.77 points, or 0.59% to close at 33,402.38. The S&P 500 too declined by 0.58% to end the session at 4,100.60. Both indexes snapped a four-day win streak.

The market losses followed the latest job openings report report. In February, the number of available positions dropped below 10 million for the first time in nearly two years.

Back in Asia losses were led by the Japanese Nikkei, which dropped slightly more than 1%, while the Australian S&P/ASX 200 fell marginally.

In India, markets are expected to open marginally higher, with all eyes on the Reserve Bank of India, which is expected to hike interest rates by 0.25% on Thursday.