European Stocks Slide on Soaring Oil Prices and Mideast Tensions

European stock markets declined on Wednesday as rising oil prices and escalating tensions in the Middle East fueled inflation concerns.

The pan-European STOXX 600 index fell 0.7% to 645.34 points, while Germany's DAX dropped 0.7%, London's FTSE lost 0.3%, and France's CAC 40 slipped 0.9%.

Helsinki's blue chips bucked the trend, rising 1.6% to reach their highest level in nearly three months, with Fortum leading gains on the STOXX 600 after signing a long-term power purchase agreement with Google.

The conflict in the Middle East intensified as Iranian-backed Houthi forces launched strikes on several Saudi cities, drawing a key US ally further into the war and threatening to disrupt oil supplies.