European stocks slide as Iran's Hormuz threat looms large
European stocks slid on March 13, 2026 after Iran's Supreme Leader pushed to keep the Strait of Hormuz closed, raising big concerns about oil supplies.
The Stoxx Europe 600 index dropped up to 0.8%, and banks took a bigger hit, falling over 3%.
With gas prices in Europe jumping 60% and inventories running low, this is shaping up to be the region's toughest energy crunch since last April (April 2025).
Strait of Hormuz is world's oil superhighway
The Strait of Hormuz is basically the world's oil superhighway (about 20% of global oil passes through it).
With the closure, experts warn that up to 4 million barrels a day could be disrupted in coming months.
This means higher energy costs, more competition for fuel between Europe and Asia, and tougher times ahead for anyone relying on affordable energy.
Deutsche Bank shares tumbled over 5%
Deutsche Bank shares tumbled over 5%, partly because of its €26 billion exposure to private credit as investors pulled money out, another sign that market nerves are running high.