European Stocks Slide on Inflation Fears and Ongoing Middle East Conflict

European shares slipped lower on Thursday due to elevated oil prices and inflation worries. The pan-European STOXX 600 closed 0.12 percent lower at 650.35 points, extending its losing streak to seven consecutive sessions.

The energy sector saw a slight boost with shares rising 0.9 percent as Brent crude futures climbed 2.2 percent. However, higher oil prices sent travel and leisure stocks down 0.7 percent.

There was some relief in the markets that euro zone bond yields steadied after the US Treasury's move to boost liquidity support for long-term debt. France's benchmark CAC 40 underperformed its regional peers, down 0.6 percent as luxury stocks slipped.