European Stocks Decline on Iran Tensions, Trump’s Tariff Threat

European stocks fell as tensions in the Strait of Hormuz pushed up oil prices and US President Donald Trump’s threat of higher tariffs on car imports from the region weighed on auto shares.

The Euro Stoxx 50 Index dropped 2.0%, while the Stoxx Europe 600 closed down 1%, dipping lower in the 30 minutes before the close after the UAE said it had detected missiles from Iran heading to the country. London’s stock exchange was closed for a holiday.