European stocks opened the week with a sharp decline, tracking developments in the Middle East and rising oil prices. The Stoxx 600 index fell by about 2.3% amid heavy selling in major exchanges and all sectors except for oil and gas. European investors woke up to further market volatility on Monday, with oil prices rising above $110 a barrel for the first time since 2022. As the UK's FTSE 100 index fell by 1.6%, so did Germany's DAX and France's CAC 40 by 2.5% and 2.4% respectively, while Italy's FTSE MIB also slid by about 2.3%.
