The European shares benchmark tumbled on Friday, led by technology and material shares, as a deadlock in U.S.-Iran negotiations dented risk appetite, rattled energy markets and rekindled economic slowdown concerns.
U.S. President Donald Trump, on the last day of his trip to China, said his patience with Iran was running out and that China's President Xi Jinping agreed that Tehran must not be allowed to develop nuclear weapons and should reopen the Strait of Hormuz. Global bonds sold off, and oil prices gained more than 1%. Inflation data readings in the U.S. and several European countries this week have shown that the impact of the Iran war has started showing up in big increases in consumer and producer prices.
