Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, on the continued spike in crude oil prices that stoked global inflation and interest-rate concerns amid escalating geopolitical tensions in the Middle East after Iran ruled out talks with the U.S. to extend a 60-day ceasefire that expired Monday. Asian markets closed mixed on Monday.

Adding to worries about a broader conflict, US President Donald Trump reportedly threatened to bomb Oman, warning, “If Oman gets in the way, we’ll bomb the s— out of them.”