Business
Global Stocks Drop as Middle East Conflict Spooks Investors
Stocks across the world took a battering on Monday as investors ditched risk assets and piled into safe havens following the strikes by the U.S. and Israel on Iran.
Europe’s flagship Stoxx 600 index slid 1.2% in early trading. Frankfurt’s Dax slumped 1.7% and Paris’s CAC 40 plunged 1.5%.
London’s FTSE 100 slipped 1%. Citi analysts upgraded the U.K. to overweight from underweight, citing the country’s concentration of commodities and defense stocks. Aerospace company BAE Systems and oil majors Shell and BP were the FTSE 100’s top three performers on Monday.
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