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EUR/USD slides below 1.1600 amid risk-off mood due to escalating US-Iran war.

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Oil opened with a gap after U.S. and Israel’s treacherous attack on Iran while the Iranian Revolutionary Guard announced the closing of Hormuz.

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Stock markets took a sharp hit while bonds faced heavy selling as Iran intensified its attacks on the U.S. and its allies in the Middle East.

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European equities plunged as the Strait of Hormuz blockade sparked inflation fears, sending the DAX to monthly lows.

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Oil prices jumped above $70 and wholesale gasoline soared 17% as conflict with Iran rattles energy markets.

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