Asian stock markets are tumbling on Wednesday, following the broadly negative cues from global markets overnight, as traders remain concerned over the inflationary impact of the prolonged conflict in the Middle East as it entered the fifth day, with U.S. President Donald Trump suggesting the war may last four to five weeks but could "go far longer than that." Asian markets closed mostly lower on Tuesday.
The price of crude oil has continued to spike in response to the conflict, raising worries the jump in prices will lead to higher inflation. Supply concerns were also worsened by the attacks on several oil refineries, including Saudi Aramco's oil facility in Ras Tanura, as well as the closure of the Strait of Hormuz by Iran.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.