European stocks tumble on Iran war escalation fears. The pan-European Stoxx 600 dropped 1.2% Thursday morning as President Trump vowed to hit Iran extremely hard over the next two to three weeks. Mining and tech stocks led declines, falling 2.8% and 3% respectively. Oil prices surged over 6%, with Brent crude jumping to $107.98 per barrel, reflecting ongoing geopolitical tensions since late February strikes. U.S. stock futures also reversed Wednesday's gains, signaling a notably lower open for Wall Street. Asian markets similarly reversed gains as investors reassessed the conflict timeline. The Trump administration is simultaneously preparing new tariffs on pharmaceutical companies lacking drug price agreements. Shell is negotiating with Venezuela on offshore natural gas development, while Ryanair warns the U.K.
