European stocks closed lower Monday as investors continued to monitor geopolitical tensions between the U.S. and Iran, with Washington preparing major new sanctions.
The pan-European Stoxx 600 closed provisionally down 0.3% to 383.79. Auto stocks led the losses with a 1.2% decline following a Daimler profit warning, while only a handful of sectors traded in positive territory.
The U.S. is threatening to impose “major” new sanctions on Iran on Monday, ramping up the pressure on the Islamic Republic at a time when its economy is straining under the weight of financial restrictions. The threat comes despite a diplomatic push from European leaders to urge restraint from leaders in Washington and Tehran.
On Wall Street, stocks were slightly higher, as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping at this week's upcoming G-20 summit.
Source : CNBC