Indian shares look set to open sharply lower on Wednesday as the U.S-Israeli war against Iran escalated into a regional conflict, leading to airstrikes and retaliatory attacks, straining diplomatic relations and resulting in hundreds of casualties, including both military and civilian deaths.
With Tehran retaliating by closing the Strait of Hormuz and targeting U.S. bases in other countries in the West Asian region, and Washinton warning that 'harder hits' are still to come, there is no clarity on the conflict's duration and potential outcomes.
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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.