Asian stock markets are tumbling on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain cautious and concerned about the fallout of the intensifying war in the Middle East in to the fourth week. Soaring crude oil prices continued to fuel global inflation and economic growth concerns, reinforcing a hawkish tilt among major central banks. Asian markets closed mostly lower on Friday.
As the conflict entered its fourth week, Washington and Tehran have traded fresh threats following a wave of damaging Iranian strikes on Israel. Iran's Natanz nuclear enrichment facility was hit in an airstrike Saturday. Two Iranian strikes on towns near Israel's main nuclear research center injured more than 100 people.
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Market Analysis
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.