Asian markets fall for 2nd day after oil decline

BEIJING (AP) — Asian stock markets fell for a second day Thursday after declines in prices of oil and other commodities pulled Wall Street lower.

Traders reconsidered risk levels after a member of the Federal Reserve's rate-setting team was quoted as saying it should consider raising interest rates at its next meeting.

James Bullard, president of the St. Louis Federal Reserve Bank, pointed to a broadly unchanged economic outlook and said a case could be made for action next month if the next round of jobs data exceeds official targets.

ANALYST'S TAKE: Clear messaging from U.S. Federal Reserve board members that U.S. interest rates will rise faster than current market expectations has forced the U.S. dollar higher.

Overnight, the U.S. Energy Information Administration reported that crude stockpiles rose 9.4 million barrels last week in further confirmation of substantial supplies.