Newsletters
European markets slid sharply on Tuesday as the ongoing conflict involving the U.S, Israel, and Iran drove energy prices higher and rattled investor confidence worldwide.
The pan-European Stoxx 600 index dropped more than 3.4%. Germany’s DAX fell 4%, France’s CAC 40 lost 3.2%, and Italy’s FTSE MIB slid 4.2%.
Every major sector traded at least 2% lower, with banking shares leading the downturn, down 4.3% as higher energy prices fueled fresh inflation concerns and further clouded the economic outlook.
Among large lenders, ING Groep dropped 4.10%, Deutsche Bank AG fell 5.06%, Commerzbank declined 4.66%, BNP Paribas lost 4.45%, Credit Agricole slipped 4.32%, Societe Generale fell 5.36%, and BBVA retreated 4.11%.
The sell-off followed earlier losses across Asia. Japan’s Nikkei 225 fell 3.2%, Hong Kong’s Hang Seng Index dropped 1.1%, Shanghai’s Composite slipped 1.3%, and South Korea’s Kospi slid 6.4%.
In Türkiye, the BIST 100 index declined 2%. U.S. equity futures also moved lower, with the broader S&P 500 down 1.8%.
Energy markets swung sharply as geopolitical risks escalated and supply fears deepened after Iran’s Revolutionary Guards effectively shut the Strait of Hormuz.
Brent crude rose 8.4% to $84.3 a barrel, while West Texas Intermediate (WTI) climbed 7.6% to $76.8. Natural gas in Europe jumped another 40% to €62.85 ($72.81) per megawatt hour at the Dutch TTF Hub, adding pressure as regional storage levels remain below 30%.
After jumping Monday, gold slipped more than 2% toward $5,200 and silver tumbled nearly 10% to $80 an ounce.
Set as preferred source
Set as preferred source
1 min read
1 min read
