French stocks drifted lower on Friday amid rising concerns about Middle East tensions. With the Strait of Hormuz remaining effectively closed, oil prices climbed higher, raising worries about inflation and possible monetary tightening by central banks.
Tensions rose after Iran flaunted its tightened grip over the key Strait of Hormuz and U.S. President Donald Trump said he has ordered the Navy to "shoot and kill any boat" that is putting mines in the waters of the Strait of Hormuz.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.