European stocks were deep in the red on Monday as a broadening Middle East conflict dented investors' appetite for riskier assets.
Inflation worries returned to the fore as Brent crude prices soared nearly 10 percent to their highest level since January 2025 on fears of supply disruptions from the Middle East.
All eyes are on the status of the Strait of Hormuz, which is crucial for the flow of oil to the rest of the world.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.