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.

Asian stocks were mostly lower on Thursday 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.

Unfortunately, the stock currently trades at 120 times adjusted earnings. That multiple looks very expensive, given that Wall Street expects earnings to increase at just 21% annually through 2025. However, patient investors should still consider buying a small position today.