European Stocks Slip Amid Oil Price Surge and Iran-US Tensions
European stocks slipped on Monday as oil prices surged higher due to renewed US military aggression against Iran.
The pan-European STOXX 600 index fell by 0.1% at 655.54 points, while Germany's DAX dropped 0.7%, the largest decline among regional indexes.
This comes ahead of inflation data from the euro zone's largest economy, which could offer clues on the European Central Bank's rate path and investors' expectations for a September rate increase.
US forces struck two targets on Iran's Larak Island in the Strait of Hormuz on Sunday, prompting Tehran to launch attacks on two US air bases in Jordan. The escalation has reinforced concerns over rising energy prices and inflation at a time when investors are already bracing for further policy tightening.