Asian shares edge lower as markets reprice Fed path; Brent rebounds to $78.03

The U.S. move to waive some Iran sanctions fueled expectations of additional oil supply, sending Brent crude briefly higher before it later settled more than 3% lower. Markets also repriced the outlook for U.S. rates amid expectations that new Federal Reserve Chair Kevin Warsh could push for a faster pace of tightening, with fed funds futures implying a 54% chance of at least two hikes by year-end. The yen hovered near 40-year lows, prompting Japan’s finance minister to speak with U.S. officials. U.S. tech stocks led declines, with the Nasdaq down 1.3% and the S&P 500 off 0.4%.