STOXX 600 logs weekly losses on Iran inflation fears
The STOXX 600 fell 1.5% on Friday as the U.S.-Iran standoff raised energy inflation fears. Rising costs prompted investors to price in upcoming ECB rate hikes.
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The STOXX 600 fell 1.5% to 606.92, logging a weekly loss as energy-driven inflation fears rattled European markets. The decline snapped a two-day rally and was led by a 2.1% drop in the Germany DAX. Investors now price two ECB rate hikes this year as the United States-Iran standoff keeps energy costs elevated.
