Middle East War, Higher Interest Rates Dampen European Bourses Midday
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European stock markets fell midday Thursday, with the Stoxx Europe 600 Index down 1.1%. The decline was influenced by stagnant Middle East peace talks and the closure of the Strait of Hormuz to oil tankers. German bond yields approached 14-year highs near 3%, while Brent crude oil prices rose 3.6% to $100.77 per barrel. Technology and banking stocks lagged, with the Stoxx Europe 600 Technology Index down 2.2%. The Euro Stoxx 50 volatility index indicated above-average market volatility ahead.
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