European Stocks Extend Losses, Down Nearly 2%

2026-07-08 10:53 By Joana Taborda 1 min. read

European stocks extended their losses on Wednesday, with both the STOXX 50 and the STOXX 600 falling nearly 2% amid escalating geopolitical tensions.

Oil prices surged for a second straight session after US President Trump declared that, "as far as I'm concerned, the ceasefire is over".

The US also launched fresh strikes on Iran and revoked a waiver that had allowed the country to sell crude on global markets, fueling concerns over further supply disruptions.

Meanwhile, President Trump criticized Spain for failing to meet NATO defense spending commitments, calling the country "a terrible partner" within the alliance.

Most sectors traded in negative territory, with healthcare, banking, and financial services among the worst performer while energy stocks bucked the broader market decline.

HSBC (-1.9%), Roche (-1.6%), AstraZeneca (-1.2%), LVMH (-2.5%), Hermes (-3.6%), Banco Santander (-4.3%) were in negative territory while Repsol (3.8%), BP (3.1%) and Eni (3.2%) outperformed.



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European Stocks Extend Losses, Down Nearly 2%
European stocks extended their losses on Wednesday, with both the STOXX 50 and the STOXX 600 falling nearly 2% amid escalating geopolitical tensions. Oil prices surged for a second straight session after US President Trump declared that, "as far as I'm concerned, the ceasefire is over". The US also launched fresh strikes on Iran and revoked a waiver that had allowed the country to sell crude on global markets, fueling concerns over further supply disruptions. Meanwhile, President Trump criticized Spain for failing to meet NATO defense spending commitments, calling the country "a terrible partner" within the alliance. Most sectors traded in negative territory, with healthcare, banking, and financial services among the worst performer while energy stocks bucked the broader market decline. HSBC (-1.9%), Roche (-1.6%), AstraZeneca (-1.2%), LVMH (-2.5%), Hermes (-3.6%), Banco Santander (-4.3%) were in negative territory while Repsol (3.8%), BP (3.1%) and Eni (3.2%) outperformed.
2026-07-08
European Stocks Retreat as Middle East Tensions Escalate
European stocks traded lower on Wednesday, with the STOXX 50 and STOXX 600 both falling 0.7%, as renewed tensions in the Middle East weighed on investor sentiment. The US launched fresh strikes against Iran and revoked a waiver that had allowed new purchases of Iranian oil, pushing oil prices higher and raising concerns over the inflation and interest rate outlook. As a result, markets increased their expectations for ECB tightening, with implied rate hikes rising to around 32 basis points from 25 basis points the previous day. Most sectors traded in negative territory. Among the biggest companies, AstraZeneca (-1.1%), Nestle (-0.8%), Hermes (-1.8%), SAP (-2.0%), and Banco Santander (-2.0%) were in the red. Energy stocks, however, outperformed on the back of stronger crude prices, with Shell (+0.7%), TotalEnergies (+1.6%), and BP (+1.8%) posting gains.
2026-07-08
European Stocks Set for Lower Open
European equity markets were poised for a lower open on Wednesday, extending losses for a third consecutive session as renewed tensions in the Middle East drove oil prices higher, reviving concerns over inflation and the outlook for interest rates. The US launched fresh air strikes on Iran following recent attacks on ships transiting the Strait of Hormuz, while also revoking a waiver that had allowed Iran to sell crude on global markets. Market sentiment also remained fragile as investors continued rotating out of semiconductor and AI-related stocks amid growing concerns over elevated valuations. In Europe, investors will monitor French current account data and earnings from British airline Jet2. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were both down around 0.3%.
2026-07-08