World shares mostly lower, oil gains after Wall Street's worst day of Iran war

Key Points:

• Global stock markets mostly declined following Wall Street's worst day since the Iran war began, driven by growing skepticism over a potential de-escalation between the U.S. and Iran.
• European indices fell with the FTSE 100 down 0.3%, France’s CAC 40 dropping 0.7%, and Germany’s DAX losing 1.3%, while Asian markets showed mixed results, including a 0.4% rise in Hong Kong's Hang Seng and a 2.1% drop in India's Sensex.
• Oil prices increased, with Brent crude rising 1.6% to $103.51 per barrel and U.S. crude up 1.7% to $96.12, amid ongoing tensions and uncertainty over supply disruptions linked to the Strait of Hormuz.
• The conflict's continuation is expected to exacerbate global inflation and hinder economic growth due to rising energy costs and trade disruptions, as Iran rejected a U.S. ceasefire proposal and the U.S. increased troop deployments in the region.
• Precious metals gained, with gold up 1.2% and silver rising 1.7%, while currency markets saw a slight increase in the U.S. dollar against the Japanese yen and a minor decline against the euro.