European Shares Seen Lower As US-Iran Peace Talks Stall

European stocks may drift lower at open on Wednesday as U.S.-Iran peace talks stalled and tensions continued to escalate over the Strait of Hormuz.

After a second round of U.S.-Iran peace talks failed to materialize, U.S. President Donald Trump has unilaterally extended the ceasefire with Iran indefinitely until Tehran submitted a “unified proposal” and “discussions are concluded one way or the other.”