European stocks tumble amid Iran escalation. Major indices opened sharply lower Thursday as geopolitical tensions intensify following Israeli strikes on Iran's South Pars gas field and subsequent Iranian missile attacks on Qatar's energy infrastructure. The FTSE fell 1.15%, DAX dropped 1.4%, CAC 40 declined 1%, and FTSE MIB slipped 1.2%. Miners led the selloff with the Stoxx Europe Basic Resources sector down 3.5%, while gold and silver plummeted 3.5% and 8% respectively. Oil prices surged following the escalation and U.S. President Trump's warning of potential strikes on Iranian energy assets. Adding pressure, a hotter-than-expected U.S. producer prices report fueled stagflation concerns. Central banks across Europe hold policy decisions today, with most expected to maintain steady rates as policymakers assess the conflict's economic impact on growth and inflation outlooks.
