European stocks end four-week rally as tech slides and U.S.-Iran strikes lift Brent 5% on the week
Renewed U.S.-Iran military strikes and Washington's reimposed sanctions on Iranian oil exports tightened perceived supply risk, lifting Brent about 5% on the week. The shock reinforced risk-off positioning: European equities snapped a four-week winning streak, with an ongoing rotation out of high-valuation tech adding pressure. Geopolitics and energy markets are again a key driver of cross-asset volatility into earnings season.
Affected assets
NCCO1OILBRENT2USD/USDT+0.75%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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A renewed round of U.S.-Iran strikes, alongside Washington’s reimposed sanctions on Iranian oil exports, pushed Brent futures up 5% for the week. European equities snapped a four-week winning streak as technology shares fell, with ASML down 2.1% on the day. The NATO summit and Donald Trump’s trade threat toward Spain added to market jitters. Vodafone and easyJet rose on deal-related news, but overall risk appetite weakened.