Asian markets are expected to open lower on Wednesday amid an escalating Middle East war, with investors also focusing on an annual parliamentary meeting by China's policymakers. The gathering, dubbed the "Two Sessions," consists of a consultative congress and a National People's Congress. Chinese Premier Li Qiang is expected to announce a series of economic targets at the NPC. Oil prices also rose, with U.S. crude futures up 0.87% to $75.21, while Brent was up 5.43% at $81.96 per barrel amid a widening conflict with Iran attempting to shut the Strait of Hormuz. The Dow Jones Industrial Average lost 403.51 points, the S&P 500 slipped 0.94% to close at 6,816.63, while the Nasdaq Composite shed 1.02% to settle at 22,05.