European Stocks Drop on Worries Over Iran Ceasefire Extension
People view damage at sites targeted by airstrikes in Tehran on April 20.
Photographer: Majid Saeedi/Getty ImagesEuropean stocks fell as hopes for an end to the Iran war were dashed by President Donald Trump’s comments that a ceasefire extension was “highly unlikely.”
The Stoxx Europe 600 Index retreated 0.8% at the close. A basket of airline stocks was down 2.9% as Brent crude traded at $95 per barrel. Cyclical shares such as autos, banks and industrials were also among the biggest laggards. The energy sector outperformed.