On March 10, 2026, in Muscat, Oman, the tanker Callisto is anchored in the Strait of Hormuz, where traffic is at a standstill amid the conflict between the United States, Israel, and Iran.
Benoît Tessier | Reuters
LONDON – European stock markets ended lower on Wednesday as traders monitored escalating operations in the Middle East.
pan-european Stocks 600 Major exchanges and most sectors closed in negative territory, down 0.8%.
of Dow It fell on Wednesday as investors weighed important consumer inflation data that shed more light on the health of the market and economy. S&P500 It also fell into negative territory. Consumer prices rose 2.4% in the 12 months to February, providing a final look at inflationary pressures before the oil crisis associated with the Iran war clouded the outlook.
Looking at individual stocks, German weapons manufacturers line metal It reported full-year sales of 9.94 billion euros ($11.5 billion) and profits of 1.68 billion euros, and said it was “well placed to help the United States replenish its missile stockpile” used in the war with Iran.
The company said in a presentation that it expected “increased spending on missile replenishment and air defense” in light of the war, but that this was “inevitable.” Rheinmetall’s stock price was down about 8% at the close of trading.
luxury car manufacturers porsche The German automaker said it plans to cut costs and expand its product range after a “difficult” 2025 that saw it cut its guidance four times.
“We will streamline our management structure, reduce hierarchy and reduce bureaucracy,” Porsche CEO Michael Reiters said in a statement. The company’s shares closed down about 0.8%.
zara owner Inditex The stock bucked the overall downward trend and closed 0.7% higher after strong first-quarter results Wednesday morning.
The company’s earnings were in line with analyst expectations, with all of its brands posting year-over-year growth despite a weak December, when sales were disappointing.
“Today’s results demonstrate the strength of Inditex’s business model,” said Mamta Valecha, consumer discretionary analyst at Quilter.
iran war
The International Energy Agency has agreed to release a record 400 million barrels of oil from its emergency stockpile to help deal with supply disruptions related to the Iran war. Earlier, U.S. Secretary of the Interior Doug Burgum said it was “the perfect time” to think about releasing the Strategic Petroleum Reserve, adding that the stockpile would be used “at times like these.”
brent crude oilCrude oil prices, the international oil benchmark, were last trading 5.4% higher at $92.61 per barrel, while in the U.S. west texas intermediate Prices rose 5.4% to $87.95 per barrel.
Secretary of Defense Pete Hegseth warned on Tuesday that the United States would launch its heaviest attack on Iran yet. U.S. Central Command later announced that its forces had sunk several Iranian vessels, including 16 minelayers, near the Strait of Hormuz, following reports that Iran was attempting to dig mines in the vital waterway.
The US announcement followed a post by President Donald Trump saying that if Iran had planted mines in the strait, “we want them removed immediately!” He later claimed that 10 inactive minelayers had been sunk and “more to come.”
Asia-Pacific markets rose in overnight trade, buoyed by a softening in global oil prices on Tuesday as the G7 met to discuss the possibility of using emergency oil reserves to ease supply tightness.
—CNBC’s Lim Hui Jie and Pia Singh contributed to this market report.
