European stocks set to slump as markets react to U.S., Israeli strikes on Iran

Market Impact - European stocks are expected to open lower, with the U.K.'s FTSE index down 0.6%, Germany's DAX down 1.5%, France's CAC 40 down 1.4%, and Italy's FTSE MIB down 1.2% [2] - Global markets are experiencing a downturn following the U.S. and Israeli attacks on Iran, which have resulted in significant geopolitical tensions [2][3] Oil Prices - Crude oil prices surged more than 8% due to fears of major supply disruptions stemming from the conflict [3] Military Actions - Iran has initiated retaliatory strikes against U.S. bases in the Middle East, resulting in the deaths of three U.S. service members [3] - The U.S. and Israeli assault on Iran was prompted by Iran's refusal to comply with U.S. demands regarding its nuclear program, following unsuccessful negotiations [4]