U.K. stocks drifted lower Monday morning amid rising tensions in the Middle East amid renewed threats from U.S. President Donald Trump to block the Strait of Hormuz following the collapse of U.S.-Iran peace talks over the weekend.
Following the failure of peace talks, U.S. President Donald Trump ordered blocking all ships trying to enter or leave the Strait of Hormuz, heightening fears of a prolonged conflict and disruptions to key energy supplies from the Persian Gulf region.
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Market Analysis
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.