European stocks traded lower on Monday, as investors monitored rising tensions between the United States and Iran.

The pan-European Stoxx 600 slightly pared early losses but was still down 0.45% by the close. Travel & leisure , autos and chemicals baskets all fell more than 1% to lead losses as almost every sector traded in the red.

Market players are fleeing riskier assets like equities in favor of safer alternatives like gold and bonds after a U.S. airstrike last week killed Iran’s top military commander, Qasem Soleimani, in Iraq. The attack has heightened already-volatile relations between Washington and Tehran.

Source: CNBC