Asian Markets Track Wall Street Lower

Asian markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, on renewed conflicts in the Middle East after Iran launched surprise attacks on U.S. bases in Jordan, surging crude oil prices and concerns over the outlook for interest rates, which the US Fed left rates unchanged, although three members voted to increase rates. Asian markets closed mixed on Wednesday.

The US Fed kept interest rates on hold, despite rising inflationary risks stemming from the war in the Middle East. Another re-escalation of the conflict between the U.S. and Iran was seen after four consecutive attack-free nights.