Asian stock markets are a sea of red on Wednesday, following the carnage in the global markets overnight, with Wall Street booking the biggest loss in 2 years on weak crude oil prices and disappointing quarterly results from some major retailers that raised concerns about persistently rising inflation, economic slowdown and rising prospects of sharper interest rate hikes. Asian Markets closed mixed on Wednesday.
The Australian stock market is sharply lower on Thursday, giving up the gains in the previous four sessions, with the benchmark S&P/ASX 200 falling below the 7,100 level, following the carnage in the global markets overnight, amid continued concerns about economic slowdown, persistently rising inflation and rising prospects of sharper interest rate hikes. Some traders also booked profits after the recent surge in the markets.
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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.