European shares drop as US-Iran tensions weigh on sentiment
The STOXX 600 fell 0.6% as rising Middle East tensions pushed oil prices to $97 a barrel. Investors are monitoring energy costs and ECB interest rate paths.
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The STOXX 600 fell 0.6% to 624.28 during the morning as escalating Middle East friction pressured global investor sentiment. All major regional bourses declined while crude oil shot up over 2.5% to $97 per barrel. Investors are weighing energy price volatility against corporate earnings as the European Central Bank considers further interest rate hikes.
