Despite opening on a steady note, the major European markets closed weak on Friday amid worries about the economic impact of the ongoing Middle East war, which entered its seventh day. The mood turned cautious around late morning and then stayed that way till the end of the day's session.
Markets opened higher amid signs of stabilization in the oil market after the United States gave India a waiver to buy Russian oil for 30 days as the Middle East conflict impacts global energy supply.
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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.