Oil price surged to $108 per barrel and Asian stocks crashed after President Donald Trump threatened to hit Iran "extremely hard" in his primetime address to the nation Wednesday night.
Trump claimed that in one month since launching military Operation targeting Iran's key energy, defense and nuclear infrastructure, the U.S. military has delivered swift, overwhelming blows to the Iranian regime — decimating its navy, shattering its air force, eliminating its key terrorist leaders, and systematically dismantling its ability to threaten the United States, its allies, and the world.
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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.