On March 18, 2026, the Iranian-flagged container ship “Nora” in the port of Kalundborg, Denmark. The ship was seized by Danish maritime authorities in February over registration concerns.
Jens Nielsen | via Reuters
LONDON — European stock markets also followed Asian markets, falling sharply at the start of the new trading week, as further escalation in the Iran war soured global market sentiment.
pan-european Stocks 600 It was down 1.9% shortly after 9 a.m. ET (4:30 a.m. ET), with all major exchanges and sectors firmly in negative territory.
Basic resources and industrial stocks were the hardest hit, falling 3.1% and 2.6%, respectively, as investors continued to flee gold and other precious metals. spot gold It fell 5.2% to $4,254.22 on Monday morning. gold futures It fell 7.4% to $4,234.
European markets followed declines in Asian markets on Monday amid growing concerns over the Iran war and the closure of the vital Strait of Hormuz.
US President Donald Trump said on Saturday that he would “destroy” Iran’s power plants if it did not fully reopen the strait within 48 hours.
Iran responded with escalating threats targeting energy infrastructure and desalination facilities in the Gulf. Iranian Parliament Speaker Mohammad Berger Ghalibaf also said on Saturday that companies that buy U.S. bonds and “finance the U.S. military budget” could be considered legitimate targets, along with military bases.
In corporate news, post italian Shares fell 7.3% in early deals after Italy’s majority state-run postal service announced acquisition plans. Telecom Italia The deal was worth 10.8 billion euros ($12.5 billion) in cash and stock. Poste Italiane is Telecom Italia’s largest shareholder. Telecom Italia shares rose 3.9%.
delivery hero The company advanced 2.4% in early trading after announcing it had agreed to sell its Taiwanese delivery platform to Taiwan. Grab Holdings For $600 million.
crude oil price It moved like a whip in volatile trading with global benchmarks early Monday. brent While the Asia-Pacific market fell, it rose 1.3% to $113.70. U.S. stock futures fell slightly on Monday as sentiment cooled after major U.S. benchmarks posted their fourth straight weekly decline.
European earnings report provided by Kongsberg Gruppen. Exor and Gulp Energia. Spain’s trade balance statistics will also be released.
— CNBC’s Anniek Bao contributed to this market report.
