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European stocks dropped to a two-month low as Middle East tensions spiked oil prices and triggered widespread market sell-offs.
European shares fell to a two-month low amid rising Middle East tensions, with the pan-European Stoxx 600 dropping 2.34% as oil prices surged over 25% to near $120 a barrel.
The sharp decline followed reports of attacks on key infrastructure, including an Iranian strike on a Bahraini oil facility, and Iran’s appointment of Mojtaba Khamenei as its new supreme leader.
Banks and airlines led losses, while German industrial orders fell sharply in January, worsening economic concerns.
Market focus now turns to ECB President Christine Lagarde and Eurogroup discussions.
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Las acciones europeas cayeron a su nivel más bajo en dos meses a medida que las tensiones en Oriente Medio aumentaron los precios del petróleo y provocaron ventas generalizadas en el mercado.