Asian stock markets are trading mostly lower on Friday, following the broadly negative cues overnight from Wall Street, as some traders continued to cash in on recent strength in the markets. Worries about growth due to the ongoing war in Ukraine, and fears of aggressive monetary tightening by the Federal Reserve and other central banks also rendered the mood cautious. Asian markets ended mostly lower on Thursday.
Crude oil prices also tumbled following reports that the Biden administration is considering a massive release of strategic oil reserves.
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