Global Stocks Stall Amid Ongoing Mideast Tensions and Rising Oil Prices
Global stocks have stalled after a four-day winning streak as oil prices ticked up. The pause in stock growth follows hopes of improved crude supplies, which has weighed on oil prices throughout this week.
A sustained resumption of oil flows through the Strait of Hormuz would help keep inflation in check, impacting the global outlook for interest rates, according to analysts.
US President Donald Trump said talks with Iran in New York made progress, but then threatened to 'annihilate' the country if a deal was not reached. This has left investors cautious about stepping into the market amidst ongoing headlines.
The pan-European STOXX 600 index slid 0.42% to 640.16 points, while Brent crude futures rose 0.62% to $98.86 per barrel. The MSCI index of global stocks dipped 0.11% after four consecutive days of gains.