European Stocks Down
European stocks traded lower on Thursday, with the STOXX 50 falling 1.2% and the STOXX 600 declining 0.9%, weighed down by a surge in oil prices amid escalating tensions in the Middle East, following reports that the White House had asked the Pentagon to draw up strike options against Iran that could be executed before the midterm elections. The rise in oil prices pushed bond yields higher again, adding further pressure on equities. Basic resources led the declines, while banks and healthcare stocks also came under pressure. In contrast, oil and gas shares traded higher.
9%, weighed down by a surge in oil prices amid escalating tensions in the Middle East, following reports that the White House had asked the Pentagon to draw up strike options against Iran that could be executed before the midterm elections. The rise in oil prices pushed bond yields higher again, adding further pressure on equities. Basic resources led the declines, while banks and healthcare stocks also came under pressure. In contrast, oil and gas shares traded higher.