Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, on concerns about the outlook for inflation following crude oil's sharp uptick to 14 year high amid fears of a ban on Russian oil by the U.S. and its Western allies. The U.S. Federal Reserve is also preparing to raise interest rates by at least a quarter point at its monetary policy meeting next week. Asian markets closed mostly lower on Monday.
Meanwhile, Russia announced a limited ceasefire and opening of several civilian evacuation corridors in Ukraine's Kyiv, Mariupol, Kharkiv and Sumy today to allow civilians to evacuate.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.