Markets across Europe and Asia experienced significant declines on Monday as the conflict in the Middle East continued to escalate. Germany’s DAX fell 2%, while several Asian markets saw losses exceeding 3%. Investors are bracing for a fourth week of turmoil linked to the ongoing war.
European shares also dipped, with the Stoxx Europe 600 Index potentially facing a correction from its February high. Oil prices continued to climb, contributing to the market downturn.
Initial gains in European natural gas markets were erased following comments from the US President, which dampened hopes for a swift resolution to the conflict. Gas prices plunged as much as 9.3% after the remarks.
The market reaction reflects continued volatility and uncertainty surrounding the situation in the Middle East and its potential impact on the global economy.