US EditionAsian shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
- Asian shares dropped sharply on Monday, with Hong Kong's Hang Seng falling 2.2% to 22,778.45 amid rising oil prices and geopolitical tensions.
- The decline followed escalating geopolitical uncertainty caused by the Russia-Ukraine conflict, renewed trade disputes between Beijing and Washington, and President Trump's plan to double steel and aluminum tariffs to 50%.
- Oil prices surged after OPEC+ announced a modest output increase starting in July, while China's factory activity contracted in May, weighing on market sentiment.
- U.S. Crude oil prices climbed by $1.60, reaching $62.39 a barrel, while Brent crude rose $1.41 to settle at $64.19 per barrel. Meanwhile, the Hang Seng index fell more than 2% amid mounting worries among investors.
- These developments suggest ongoing volatility for Asian markets and reflect persistent global investor caution due to oil price rises, tariff uncertainties, and geopolitical risks.
32 Articles
32 Articles
Wall Street drifts higher as oil prices jump and U.S. manufacturing slumps
Asian shares slide as oil prices jump
HONG KONG, China — Asian shares sank on Monday and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty. Hong Kong’s Hang Seng plunged more than 2 percent as Beijing and Washington traded harsh words over trade. US President Donald Trump’s announcement that he will double tariffs on steel and
Associated Press News
Asian shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
Asian shares have fallen and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty.
Investors also consider increasing OPEC+ production from July
Negative trend in Asian trading after the US President announced on Friday that he intends to double tariffs on steel to 50% • Futures on Wall Street also decline • Oil prices rise • Bitcoin price is more than $104,000
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