The Logo for Lowe's

The logo for Lowe's is displayed above a trading post on the floor of the New York Stock Exchange, Tuesday, May 20, 2025.

Market Reactions

Shares rose in Asia on Wednesday while oil prices jumped more than $1.20 a barrel following a report that Israel may be planning an attack on Iranian nuclear facilities.

Oil Price Surge

Oil prices surged after a CNN report cited unnamed intelligence officials saying Israel may be preparing for an attack on Iranian nuclear facilities. Oil prices tend to rise with conflicts that might disrupt oil supplies. U.S. benchmark crude oil gained $1.21 to $63.24 per barrel while Brent crude, the international standard, rose $1.20 to $66.58 per barrel.

Concerns Over Nuclear Weapons

In talks on the nuclear issue, Iranian officials have warned they could pursue a nuclear weapon with their stockpile of uranium enriched to near weapons-grade levels. U.S. President Donald Trump has repeatedly threatened to unleash airstrikes targeting Iran's program if a deal isn't reached.

Stock Market Overview

In share trading, Tokyo's benchmark Nikkei 225 fell 0.1% to 37,491.80. Gains have been constrained by the continued worries over higher tariffs Trump has imposed on many U.S. trading partners since taking office. Earlier this week, Japanese officials said they were insisting all of his higher tariffs on imports from Japan be removed as part of talks with Washington.

Political Implications

In a step that further weakened Prime Minister Shigeru Ishiba's faltering administration, the agriculture minister, Taku Eto, resigned after an outcry over comments he made about not having to buy rice, but getting it for free, at a time when shortfalls in supply have pushed prices of the staple grain sharply higher.

Asian Market Performance

In Hong Kong, the Hang Seng picked up 0.4% to 23,772.34, while the Shanghai Composite index edged 0.2% higher to 3,384.90. Australia's S&P/ASX 200 surged 0.8% to 8,411.50, while the Kospi in South Korea also gained 0.8%, to 2,621.32. Taiwan's Taiex advanced 0.6%.

U.S. Market Movements

On Tuesday, the S&P 500 lost 0.4% to 5,940.46, for its first drop in seven days. The Dow Jones Industrial Average fell 0.3% to 42,677.24, and the Nasdaq composite fell 0.4% to 19,142.71. Treasury yields and the value of the U.S. dollar held relatively stable following a brief jolt Monday morning after Moody's Ratings said the U.S. government no longer deserves a top-tier credit rating because of worries about its spiraling debt. U.S. government debt could be set to get even bigger with Washington debating more cuts to taxes. Stocks of...