European Stock Markets Set to Open Lower Over Escalating US-Iran Tensions

Earlier this week, the market sentiment had started improving over reports that US and China were planning to resume their trade negotiations. But now, tensions between US and Iran are flaring up in the Middle East, hurting the sentiment once again.

European stock markets are expected to open lower on Friday over reports that US President Trump was considering an attack on Iran in retaliation to the US drone being shot down yesterday. At the time of writing, DAX is trading slightly over 12344, lower than the 12367 close on Thursday.

On Thursday, Revolutionary Guards had claimed that they shot down a US spy drone within Iranian airspace – a claim that the US had initially denied. However, later during the day, US officials backtracked and stated that a missile attack had downed their surveillance drone which was flying over the Strait of Hormuz – the same region where oil tankers were attacked a few days ago.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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