Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. The Dow (.DJI) and S&P (.SPX) both lost 1 percent on Tuesday on Greek debt concerns and after upbeat U.S. economic data added fuel to expectations that the Fed will raise rates sooner rather than later. Higher interest rates for the world’s largest economy could lessen the allure of equities, not only in the United States but also in other countries.