Asian markets mostly fell again on Tuesday, extending a global sell-off fuelled by fears that Russia is about to invade Ukraine, though the losses were more muted than the previous day and oil dipped after Moscow said a diplomatic agreement was still possible. The crisis in Eastern Europe added to long-running unease about the Federal Reserve’s plans to hike interest rates as it battles to rein in 40-year-high inflation, with one top official saying the bank needed to act quickly to maintain its credibility. Equities were sent spinning after US national security advisor Jake Sullivan warned last week that Russia could storm into Ukraine “any day now”, having amassed more than 100,000 troops on its border in recent weeks. Western powers have drawn up a series of tough sanctions against Moscow in the event of an invasion but there is a big worry that such a move would have economic consequences owing to the fact that the two countries are key sources of vital commodities including oil, gas and wheat. The price of each of them has soared in recent weeks. However, while Washington continues to fret, there was a glimmer of hope that recent diplomatic efforts could pay off, with...