U.S. President Trump's remarks trigger sharp drop in European stock markets

European equity markets fell sharply on Wednesday after U.S. President Donald Trump said the cease‑fire between the United States and Iran was over and ordered the Treasury to cut all trade with Spain. The comment revived geopolitical tension and pushed oil prices higher, boosting the energy sector while dragging equities lower.

The pan‑European STOXX 600 slipped 1.8% to 634.91 points, its worst daily decline since March. Major indexes also plunged: London’s FTSE 100 down 1.66% to 10,489.04, Frankfurt’s DAX down about 2.3% to around 24,898, Paris’s CAC 40 down 2.18% to 8,252.66, Milan’s FTSE MIB down 1.22% to 51,817.25, Madrid’s IBEX 35 down roughly 2.7% to 19,104, and Lisbon’s PSI 20 down 1.77% to 9,085.24. The Spanish IBEX suffered the steepest fall after Trump labeled Spain a “terrible partner.”