A trading floor manager works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Monday, May 4, 2026. <\/p>\n
Michael Nagle | Bloomberg | Getty Images<\/p>\n
LONDON \u2014 European stocks are expected to open mostly lower on Tuesday as investors digest the latest developments in the Iran war.<\/p>\n
The U.K.’s FTSE<\/a> index is seen opening flat, Germany’s DAX<\/a> and France’s CAC 40<\/a>\u00a0down 0.4%, respectively, and Italy’s FTSE MIB<\/a> 0.1% lower, according to data from IG.<\/p>\n Global markets were shaken Monday as a fragile\u00a0ceasefire<\/a>\u00a0between the U.S. and Iran appeared to be close to collapse as the United Arab Emirates came under attack<\/a> from Iranian drones and missiles, and the U.S. said it sank Iranian boats in the Strait of Hormuz.<\/p>\n President\u00a0Donald Trump<\/a>, in a\u00a0Fox News<\/a>\u00a0interview later Monday, warned Iran that it will be “blown off the face of the earth” if it targets U.S. ships that are protecting commercial vessels transiting the strait.<\/p>\n Trump also said in a Truth Social post that a South Korean cargo ship had come under fire from Iran in the waterway. “Perhaps it’s time for South Korea to come and join the mission!” Trump\u00a0wrote in the post<\/a>.<\/p>\n Stock market indices closed sharply lower\u00a0<\/a>and\u00a0oil prices rose<\/a> Monday amid fears that the war could continue for much longer than expected, potentially causing a global recession.<\/a> Oil prices declined overnight<\/a>.<\/p>\n Earnings continue Tuesday with Anheuser-Busch InBev<\/a>, Intesa Sanpaolo<\/a>, Ferrari<\/a>, Novonesis, Geberit<\/a>, Banco BPM<\/a>, Covestro<\/a> and Fresenius Medical Care<\/a> all due to report. <\/p>\n Earlier Tuesday, Europe’s largest lender HSBC<\/a> reported first-quarter pretax profit of $9.4 billion, marginally missing analysts’ estimates<\/a>.<\/p>\n \u2014 CNBC’s Kevin Breuninger contributed to this market report.<\/p>\n