European stock markets closed lower on Friday as heightened tensions in the Middle East rattled investors, overshadowing optimism from improving US-China trade relations.
The pan-European Stoxx Europe 600 index dropped 0.89% to finish at 544.94 points. Germany’s DAX 40 fell 1.07% to 23,516.23, France’s CAC 40 declined 1.04% to 7,684.68, and Italy’s FTSE MIB 30 tumbled 1.28% to 39,438.75. In the UK, the FTSE 100 slipped 0.39%, ending the session at 8,850.63.
Investor sentiment deteriorated sharply after Israel launched a large-scale military strike on Iran, raising fears of a broader regional conflict. The attack, which killed dozens including top Iranian commanders and nuclear scientists, prompted Iran to request an emergency UN Security Council meeting and pledge severe retaliation.
The euro also lost ground amid the uncertainty, declining 0.181% against the US dollar to trade around 1.156 as of 7.20 p.m. local time (1620GMT).
While markets had been buoyed earlier in the week by signs of progress in US-China trade talks, the sudden spike in geopolitical tensions shifted investor focus toward safe-haven assets and away from equities.
“Geopolitical shocks like this tend to spike volatility and reduce risk appetite,” said one analyst. “Even positive news like easing trade friction takes a backseat when investors are concerned about military escalation and energy market disruption.”
Market participants will be closely monitoring developments over the weekend for further clues on how the conflict may evolve and its potential impact on global markets.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
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