European Stocks Set for Lower Open as US Strikes Iran

European equity markets pointed to a weaker open on May 28, 2026, after the United States launched fresh military strikes against Iran, escalating geopolitical tensions. Futures on the Euro Stoxx 50 declined 1.2%, while contracts for the FTSE 100 and DAX fell 0.9% and 1.1% respectively, signaling a risk-off session. The Pentagon confirmed the strikes targeted Iranian military infrastructure, marking a sharp increase in hostilities. Investors fled to safe-haven assets, with gold futures rising 1.5% to $2,780 an ounce and the Japanese yen strengthening against the dollar. Crude oil prices surged 3.2%, with Brent crude trading above $92 a barrel on supply disruption fears. The attacks overshadowed earlier optimism ahead of eurozone inflation data due later in the day. Analysts cautioned that sustained conflict could pressure European equities further, particularly energy-intensive sectors.