Global Stocks Wobble Amid Middle East Tensions and Oil Price Surge

Global stock markets faced declines with Euro zone stocks down 0.8%, while oil prices rose amid Middle East conflicts. Asian markets also saw dips, except Japan's Nikkei. Safe haven flows were muted, and currency markets experienced fluctuations as geopolitical tensions persisted.

Global stocks faltered as European and Asian shares broadly retreated on Thursday in response to escalating Middle East tensions. Oil prices climbed, reflecting fears about potential disruptions in the region, as Euro zone stocks dipped 0.8% following weak business activity data.

Asian markets saw significant declines, driven by Hong Kong stocks post-rally, though Japan's Nikkei defied the trend, rising 2% after assurances from Prime Minister Shigeru Ishiba on interest rates. Meanwhile, Nasdaq and S&P futures slipped amid ongoing geopolitical concerns.

Oil prices saw gains due to Middle East conflict threats, with Brent and U.S. crude futures up. Despite muted safe haven flows, global currency markets fluctuated, highlighted by a flat euro and a declining sterling as economic outlooks stayed uncertain.

(With inputs from agencies.)