BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell sharply to hit a four-month low on Monday as a further escalation in the U.S.-Iran war spurred inflation concerns.
Benchmark Brent crude prices jumped more than 2 percent to $109 a barrel after U.S. President Donald Trump issued a 48-hour ultimatum to Iran to reopen the Strait of Hormuz, warning of strikes on power plants.
Iran said it would attack Israel's power plants and plants supplying U.S. bases in the Gulf if Trump carries out his threat to 'obliterate' Iran's power network.
Since late February, Iran has effectively restricted access to the waterway, through which around 20 percent of global oil and liquefied natural gas (LNG) flows.
The pan European Stoxx 600 plummeted 1.74 percent to 563.31 after tumbling 1.8 percent on Friday.
The German DAX plunged 1.9 percent, while France's CAC 40 and the U.K.'s FTSE 100 both were down around 1.6 percent.
Metall Zug Group shares tumbled 4.2 percent. The Swiss medical devices maker scrapped dividend after reporting a loss in fiscal 2025 amid one-time items and weak net sales.
French food company Danone fell about 1 percent after it agreed to acquire U.K.-based fortified drinks maker Huel.
Delivery Hero rallied 3 percent. The Germann online takeaway food group has agreed to sell its Taiwan food delivery business to Grab Holdings for $600 million, with proceeds used to repay debt.
Steelmaker Salzgitter plummeted 6.2 percent after posting a pre-tax loss of €28 million in 2025.
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