Asia markets mixed as investors watch Trump-Xi meeting and Iran tensions
Asia-Pacific markets were mixed Wednesday, as investors digest a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East c
Asia-Pacific markets were mixed Wednesday, as investors digest a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East conflict. President Donald Trump on Monday said the month-old ceasefire between the U.S.
Key points
- and Iran was "unbelievably weak" and " on massive life support " after rejecting an "unacceptable" counterproposal from Tehran to end the conflict.
- Defense Secretary Pete Hegseth said Trump doesn't need congressional approval to restart strikes on Iran .
- The comment comes after the administration passed the 60-day mark required by federal war powers law to receive authorization for military force.
- Meanwhile, investors will also be focusing on developments related to the upcoming meeting between Trump and Chinese President Xi Jinping, where trade is expected to be discussed.
- The West Texas Intermediate futures for June was 0.97% lower at $101.15 per barrel as of 4:23 a.m.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC.