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European stocks steady despite market turmoil
European stocks generally remained steady at the start of trading today, Tuesday, amid escalating turmoil in the global bond markets and worsening military developments in the Middle East, which have dampened investors' appetite for high-risk assets. Major indices such as Germany's DAX declined by 0.6%, and the UK’s FTSE 100 fell by 0.4%, while the STOXX 600 remained unchanged. This was driven by rising yields on government bonds in Asia, particularly Japan's 10-year bonds, leading to a global repricing of U.S. and European Treasury yields. Geopolitical tensions increased after Iranian missile strikes on U.S. bases in Jordan, coupled with warnings of a potential U.S. military escalation against Iran, fueling fears of rising energy prices and their impact on inflation and stock markets. Markets expect eurozone inflation data to confirm ongoing inflationary pressures, while they await U.S. labor market reports.
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