European markets hit 2-week low as Iran-Israel tensions escalate
Business
European stock markets slid to a two-week low on Monday, with the STOXX 600 down 1.8%, after fresh conflict between Israel and Iran rattled investors and sent energy prices soaring.
Travel and tourism companies could be worst hit
Rising oil prices mean higher living costs could be coming, especially for countries that rely on imports.
Inflation might stick around longer, interest rate cuts could get delayed—stuff that can eventually affect travel.
Oil prices shot up by more than $5 per barrel
US and Israeli strikes on Iran—following attacks that killed Iran's Supreme Leader—sparked missile launches and shipping disruptions in a key oil route.
While energy and defense stocks like Shell or BAE Systems actually rose thanks to these tensions, most sectors took a hit; travel companies dropped hard as flight suspensions kicked in.