Asian Markets Retreat From Record Highs After U.S. Strikes Iran Again

Asian shares fell from record highs on Thursday, May 28, 2026, after the United States launched new military strikes against Iran, escalating Middle East tensions and triggering a flight to safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%. Japan’s Nikkei 225 declined 0.3%, and China’s Shanghai Composite slipped 0.4%. Oil prices surged more than 2% on supply disruption concerns, with Brent crude topping $78 a barrel. Gold rose 0.8% to $2,420 per ounce, while the Japanese yen and Swiss franc strengthened. The U.S. dollar index edged up 0.2% against a basket of major currencies. The Pentagon confirmed targeted strikes on Iranian missile and drone facilities, marking the second such operation this month. The action follows months of heightened rhetoric and failed diplomatic efforts. Investors now brace for potential retaliatory measures and an emergency United Nations Security Council session later Thursday.