The European blue-chip stock index fell due to surging oil prices.

The failure of the weekend peace negotiations between the US and Iran caused oil prices to soar, leading to a sharp drop in the European blue-chip stock index. Banking and consumer-sensitive stocks declined, dragging down the pan-European STOXX 600 index by 0.8%. The German DAX index fell by 1%, with Deutsche Bank dropping by 2.6% and energy-sensitive Siemens Energy falling by 2.2%. In Paris, luxury stocks declined, pulling down the French CAC 40 index by 1%, with Gucci owner Kering Group dropping by 3%. The UK's FTSE 100 index fell by 0.55%, with the rise of oil giants offsetting the decline of mining companies and the owner of British Airways, IAG. The banking sector weighed down on the Italian FTSE MIB index and the Spanish IBEX 35 index, which fell by 0.7% and 1.15%, respectively.