European Stocks Fall, Hopes for Iran De-escalation Fade
European stocks weakened again on Thursday, with the Euro STOXX 50 down 1.2% and the STOXX 600 down 1.9%. The pressure arose after comments by US President Donald Trump dimmed hopes for a quick resolution to the Iran conflict. While he said the US operation was nearing its end and promised more aggressive action, he offered no new details, including no timeline for troop withdrawal or a clear plan to reopen the Strait of Hormuz.
This uncertainty fueled a rally in oil prices, with crude oil rising again above US$105 per barrel. Nearly all sectors were in the red except energy, while technology and industrial stocks led the decline. Among the companies that fell sharply were ASML Holding (-4.1%), Infineon (-4.4%), Siemens Energy (-3.7%), and STMicroelectronics (-3.5%).
Despite Thursday's decline, European stocks overall still have a chance to close the week on a positive note, with the STOXX 50 up 2.3% and the STOXX 600 gaining 2.7% for the week. Markets in the region will be closed on Friday for the Easter holiday. (asd)
Source: Newsmaker.id