Stock market today: Asian shares wobble and oil prices fall after Biden's meeting with China's Xi

BANGKOK (AP) — Asian shares have retreated after Wall Street added a bit more to its big rally from a day before, while U.S. futures and oil prices were lower.

Any lift in sentiment from a meeting between U.S. President Joe Biden and Chinese leader Xi Jinping appeared to fade after Biden, pressed by a reporter on whether he trusted Xi, said he believed in trusting but verifying and conceded that China’s leader is a dictator.

Biden and Xi emerged from their first face-to-face meeting in a year vowing to stabilize the fraught relationship between the world's two biggest economies. They showcased modest agreements to combat illicit fentanyl and re-establish military communications. Rifts on economic competition and global security threats persist, but Biden said they agreed to “pick up the phone” and talk if urgent issues arise.