European Stocks Close Mostly Lower On Geopolitical Concerns

European markets closed mostly weak on Friday, with many of them languishing in negative territory almost right through the day’s session, as worries about tensions in the Middle East pushed up oil prices, raising concerns about inflation and interest rates.

Tech stocks drifted lower as concerns over the sector resurfaced amid elevated AI spending and stretched valuations

Oil prices climbed higher as Tehran launched strikes against several countries across the Gulf and wider region following a fresh wave of strikes by the U.S. against Iran amidst a row over control of the Strait of Hormuz.