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Asia-Pacific markets were set to open 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. and Iran “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.
