Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders are cautious after data showed a drop in U.S. consumer sentiment amid signs of growing stress in the banking sector and the impasse over raising the U.S. debt ceiling. Asian markets closed mostly lower on Friday.
U.S. Treasury Secretary Janet Yellen has warned that a default on the U.S. debt would be catastrophic and was "unthinkable." The postponement of a meeting between President Joe Biden and top lawmakers adding to jitters about a potential default.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.