European stocks set to slump as markets react to U.S., Israeli strikes on Iran
CNBC
European stocks are expected to start the new trading week firmly in negative territory.
LONDON — European stocks are expected to start the new trading week firmly in negative territory as global markets drop after the U.S. and Israel launched widespread attacks on Iran at the weekend.
The U.K.'s FTSE index is seen opening 0.6% lower, Germany's DAX down 1.5%, France's CAC 40 down 1.4% and Italy's FTSE MIB 1.2% lower, according to data from IG.
Global markets are all lower Monday. The strikes have left the Islamic Republic's Supreme Leader Ayatollah Ali Khamenei dead, with the U.S. and Israel urging Iranian citizens to seize the opportunity to overthrow the regime.
Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating U.S. and Israeli air war against Iran.
The yen and euro were lower on Tuesday as the widening Middle East conflict focused attention on countries dependent on energy imports.
Oil prices continue to rise Iran's Revolutionary Guard says it has closed the Strait of Hormuz,
European stocks are expected to start the new trading week firmly in negative territory.
Oil prices jumped to their highest levels in months on Monday as Iran and Israel escalated attacks in the Middle East, disrupting shipments from the region.
Gold prices rose on Monday after the U.S. and Israel launched strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, deepening global uncertainty.
Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel respectively.
European markets finished mixed as more earnings reports and economic data were in focus.