economy

March 4, 2026

European markets finish higher as traders track Middle East turmoil

European stocks closed higher on Wednesday as markets continue to track developments in the Middle East.

European markets finish higher as traders track Middle East turmoil

TL;DR

  • The pan-European Stoxx 600 index closed 1.4% higher.
  • Spain's IBEX 35 closed 2.5% higher after U.S. President Trump threatened to cut off all trade with the country.
  • U.S. Treasury Secretary Scott Bessent confirmed a 15% global tariff will be implemented this week.
  • The U.S. will provide insurance to tankers in the Persian Gulf and the Navy will escort tankers if necessary to stabilize oil shipments.
  • Oil prices eased on Wednesday.
  • Novo Nordisk shares rose 6%, while Lottomatica surged nearly 15% after a strong earnings report.
  • Weir Group shares fell 10.6% after an updated earnings report.
  • South Korea's Kospi plunged over 12% before paring losses.
  • The S&P 500 traded nearly 0.9% higher in the U.S.
  • United Arab Emirates' stock markets tumbled upon reopening after Iranian strikes.

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