European shares have declined, on concerns that a ceasefire between the US and Iran might collapse after Washington said it had seized an Iranian cargo ship that tried to run its blockade and Tehran vowed to retaliate, Reuters reports.
The pan-European STOXX 600 index was down 1.1 per cent at 619.67 points as of 0855 GMT. Other major regional markets also fell, with France’s CAC and Germany’s DAX down 1pc and 1.6pc, respectively.
The moves mark a sharp reversal from last Friday’s optimism, which led to the STOXX 600 jumping more than 1pc to post its fourth straight weekly rise after Iran declared the Strait of Hormuz open.
