Asian stocks declined on Friday as renewed hostilities between the U.S. and Iran lifted crude oil prices and revived inflation worries.
The U.S. and Iran traded fire in the Strait of Hormuz and accused each other of carrying out attacks in the sharpest confrontation since the fragile U.S.-Iran ceasefire came into effect on April 7.
Iran reportedly activated its air defense systems, intensifying fears of a broader military crisis in the region. U.S. President Donald Trump insisted that the ceasefire remained in effect but warned of harsher military action if no deal is signed quickly.
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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.