France's equity benchmark CAC 40 fell over 2% Monday morning as stocks tumbled amid rising tensions in the Middle East 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 retaliated by saying that 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.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.