Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly higher on Tuesday, following the broadly negative cues from Wall Street overnight, as concerns about a re-escalation of the military conflict in the Middle East and the related spike in crude oil prices added to worries about global inflation and interest rates. US President Donald Trump threatened to hit Iran “hard” after the two foes traded fire for the first time in over a month. Asian markets closed mixed on Monday.

The Australian stock market is modestly lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling to near the 9,050 mark, with weakness in technology and financial stocks partially offset by gains in gold miners and energy stocks.