The United States has warned that its military will intervene if China carries out an armed attack on Philippine armed forces, public vessels, or aircraft, including those of the Coast Guard in the South China Sea.
The warning from the State Department came in the wake of Chinese Coast Guard's reported use of laser devices against the crew of a Philippine Coast Guard ship in the South China Sea last week.
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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.