European Markets Tumble Amid Rising Tensions Over Strait of Hormuz

European shares fell sharply on Tuesday, primarily due to declines in defense and healthcare stocks, as investors showed caution ahead of U.S. President Donald Trump’s critical deadline concerning the Strait of Hormuz.

Crude oil prices climbed beyond $110 per barrel as heightened tensions between the U.S. and Iran showed little sign of resolution. The STOXX 600 index saw a 1% decline to 590.59 as trading resumed following the Easter holiday weekend.

Amidst this volatility, sectors like aerospace, defense, and healthcare suffered significant losses. Meanwhile, the market continues to grapple with inflationary pressures and uncertainties in monetary policy as geopolitical conflicts persist.