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A gauge of Asian stocks declined 0.5% in early trade post the S&P 500 sliding 1.5% to its lowest ever since November 2025.
By CNBCTV18.com March 13, 2026, 6:50:49 AM IST (Published)
2 Min Read
Asian shares followed US stocks lower in early trade on Friday as focus remained on oil prices on increasing fears that the Iran war will further boost inflation and crimp energy supplies.
A gauge of Asian stocks declined 0.5% in early trade post the S&P 500 sliding 1.5% to its lowest ever since November 2025.
Oil edged lower on Friday after climbing to its highest close since August 2022 as President Donald Trump and Iran’s new supreme leader both struck defiant tones, with the latter saying the Strait of Hormuz should remain shut.
Treasuries were steady in early Friday trading after falling across the curve in the previous session as inflation worries grew. Traders have now scrapped expectations for any Federal Reserve rate cuts in 2026. The policy-sensitive US two-year yield climbed nine basis points to 3.74% Thursday and the 10-year rose three basis points to 4.26%.
A gauge of the dollar edged lower on Friday after closing at its highest level in almost two months.
Traders will also be on the lookout for US inflation data due later, although the backward-looking measure may do little to alter investors’ thinking given the geopolitical uncertainty.
Trump said in a social-media post that preventing Iran from having nuclear weapons and threatening the Middle East is “of far greater interest and importance to me” than the cost of oil.
Separately, his administration plans to waive a century-old maritime law that requires American ships be used to transport goods between US ports as it seeks to blunt surging oil prices, Bloomberg News reported. The US Navy could start escorting tankers through the Strait of Hormuz by the end of March, Energy Secretary Chris Wright told CNBC.
With the Fed widely expected to hold rates steady next week, investors will be closely watching for any shifts in its outlook, as Trump renews calls for the central bank to cut interest rates.
With inputs from Bloomberg
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