European Stocks Open in the Red as US Strikes Hit Iran's Qeshm Island
Europe's major indexes opened lower Tuesday after US strikes on Iran's Qeshm Island, per Breaking The News. The DAX fell 1.06% and the Euro Stoxx 50 lost 1.16%, erasing Monday's peace-deal rally. The euro and pound held flat against the dollar.
European stocks tripped out of the gate Tuesday. The DAX fell 1.06%, the Euro Stoxx 50 slid 1.16%, the FTSE 100 shed 0.65% and the CAC 40 gave up 0.62% at the open, according to Breaking The News.
The trigger? Fresh US strikes on Iran's Qeshm Island, which the outlet described as alleged. Traders didn't wait for confirmation before heading for the exits.
It's a whiplash turn from Monday, when European indexes closed higher on hopes of a last-minute peace deal between Washington and Tehran. Oil prices dropped sharply on that optimism, and tech shares rebounded from Friday's slump to lift the mood.
Even before the missiles, Tuesday's session had baggage. Investors were already chewing through third-quarter results from Lufthansa, Philips and Bayer, and waiting on fresh inflation prints from Switzerland and Turkey before the bell, per Breaking The News.
Currencies barely flinched. At 8:58 am CET, the euro was flat against the dollar at $1.12007 and the pound held at $1.34209.
The story is still moving. Breaking The News says more details are coming, and markets will be watching whether a peace track that looked alive on Monday survives the new strikes.
TopicsDAX · FTSE 100 · CAC 40 · Euro Stoxx 50 · Lufthansa · Philips · Bayer · Qeshm Island
Source: breakingthenews.net
Written by Paparazzi with AI. Not financial advice.