European stocks steady as oil rises after Iran-US strikes
European stocks rose on Wednesday as investors monitored Iran-US hostilities. Oil prices edged up while Asian tech shares fell ahead of U.S. inflation data.
The STOXX 600 rose 0.1% on June 10 morning as European markets resisted volatility following new military strikes between Iran and the United States. This resilience contrasted with a 2.3% drop in broader Asian markets and a 4.5% slide for tech-heavy indices in South Korea. Europe’s lower exposure to high-valuation technology hardware acted as a defensive buffer against geopolitical shocks and AI sector selloffs.
Wall Street futures fell between 0.3% and 0.5% as the CBOE volatility index touched its highest intraday level since April 7. The Revolutionary Guards of Iran confirmed missile and drone strikes on American military bases in Jordan, Kuwait, and Bahrain. These actions followed U.S. strikes near the Strait of Hormuz, marking the sharpest escalation since an April ceasefire.
