Asian stocks fell from record highs on Thursday as investors weighed mixed signals from Washington and Tehran for a deal to end the war and reopen the Strait of Hormuz. The U.S. conducted fresh self-defense strikes in southern Iran and Tehran also targeted strikes on a U.S. air base, driving up global oil prices and reviving inflation concerns.
Brent crude futures rose over 2 percent toward $97 a barrel in Asian trading, after having fallen more than 5 percent in the previous session.
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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.