The strength of the US dollar against major currencies in the region and a surge in treasury yields to its highest level in almost sixteen years has caused Asian stock markets to trade sharply lower, following the mixed cues from Wall Street overnight. Traders also await key monthly US employment data later in the week for cues on the outlook for interest rates. Asian markets closed mostly lower on Monday.
Adding to the losses in the previous sessions, the Australian stock market is sharply lower on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 breached the 7,000 mark to fall to a six-month low, with weakness across global markets amid a strong US dollar and a surge in treasury yields.
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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.