European stocks continue to fall after US new sanctions on Iran

Economies.com
2019-06-25 11:48AM UTC

European shares tumbled Tuesday morning, extending losses for a third consecutive session as investors shrugged off risk in higher-yielding assets amid fears of heightened tensions between the United States and Iran after US President Donald Trump imposed new sanctions on Iran.

 

The Stoxx Europe 600 index fell by 0.2% to 11:17 GMT, and the index ended yesterday's session down by 0.3%, the second consecutive daily loss, with corrections and profit taking from a six-week high.

 

The index fell on Tuesday morning to continue its third drop in a row, with most of the major bourses and sectors in the negative region.

 

US President Donald Trump signed an executive order on Monday imposing new "tough" sanctions on Iran, and NBC News said it would deny Supreme Leader, Ali Khamenei, and senior Iranian officials access to key financial resources.

 

Tehran said the US sanctions imposed on top officials in the country have permanently closed the path of diplomatic solutions between the two countries.

 

Tension has been widespread between the two countries, after Tehran dropped a US drone aircraft in the Persian Gulf.

 

US President Donald Trump and Foreign Minister Mike Pompeo said at the weekend that the White House is ready to negotiate with Iran without preconditions.

 

Standard & Poor's 500 futures fell more than 0.3%, and the index ended yesterday's session on Wall Street down by 0.2%, the second consecutive daily loss, with the correction and profit taking from a seven-week high.

 

Euro Stoxx 50 index fell by 0.2%, while in France, the CAC 40 index fell by more than 0.1%, with Germany's DAX index falling by 0.1%, and London's FTSE 100 lost more than 0.1%.

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