2026.03.0308:23:48UTC+00European Stocks Down to Nearly 1-Month Lows

European stocks extended their losses on Tuesday, with both the STOXX 50 and STOXX 600 dropping about 1.5% to their lowest levels in roughly a month. Risk sentiment remained fragile as the conflict in the Middle East intensified and energy prices—especially natural gas—continued to surge. The jump in energy costs is expected to add further upward pressure on inflation and could push the ECB toward a more hawkish policy stance.

Financials, utilities, and technology were among the weakest sectors. ASML Holding fell 2.5%, HSBC Holdings declined 2.1%, while LVMH and Roche lost 2.1% and 1.6%, respectively. Novartis also edged lower, slipping 1.1%.

Beiersdorf shares plunged around 14% after the company warned that its 2026 outlook would be weaker than previously anticipated, citing cost and foreign-exchange headwinds. Intertek dropped nearly 10% after results came in below investor expectations.

In contrast, energy and defense stocks outperformed. Repsol gained 1.5%, BP rose 1.6%, while Maersk and Leonardo each added about 0.6%.