European Stocks Lower

European stocks fell on Wednesday, with the STOXX 50 down 0.6% and the STOXX 600 losing 0.4%, snapping a three-day winning streak. The decline came as renewed gains in oil prices, driven by concerns over further Houthi attacks on Saudi Arabia, outweighed relief from signs of recovering Middle Eastern oil supplies. The rise in crude prices also pushed government bond yields higher, as investors remained concerned about the inflationary impact of elevated energy costs. Mining and technology stocks led the declines, with Infineon Technologies falling 2.8%, ASML Holding down 1.4% and Glencore losing 1%. Banks also came under pressure, with HSBC declining 1.5%, Banco Santander 0.9%, BBVA 1.1% and UniCredit 1.2%. Industrial stocks weakened as well, with Siemens down 1.8% and Siemens Energy falling 1.7%.