European stocks fell on Tuesday as escalating tensions between the United States and Iran prompted investors to assess the impact of the conflict on corporate performance.
By 13:55 Moscow time, the European Stoxx 600 index had fallen by 0.59% to 637.25 points, with the travel and leisure sector leading the losses among sectors with a decline of 2%.
Shares in airlines Air France and Lufthansa, which are affected by energy prices, fell by about two percent each.
Brent crude rose to $85 a barrel after the United States launched airstrikes for the third night in a row against Iran, and US President Donald Trump announced a naval blockade of Iran and imposed a 20% tariff to protect the Strait of Hormuz.
This move adds a new challenge for companies and investors when assessing the strength of the economy and the outlook for businesses during the remainder of the year, just weeks after an agreement in the Middle East that appeared to put an end to the fighting.
