European Shares Fall as Oil and Yields Rise
European stocks retreated as surging oil prices and rising bond yields reversed early session gains. The ongoing Iran conflict weighed on market sentiment. Meanwhile, business activity across the euro zone accelerated at its fastest pace in over three years.
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European shares closed lower on Wednesday afternoon as Brent Crude Oil climbed past $100 a barrel, pushing bond yields higher amid an escalating conflict involving Iran. The benchmark STOXX 600 dropped 0.4% on Wednesday following duelling speeches at the UN General Assembly. Regional bourses retreated as investors weighed persistent geopolitical friction against strong regional economic data.
