Europe stocks fall as US-Iran war fears spike; oil jumps over 6% amid conflict escalation

European shares dropped sharply as fears of an escalating US-Iran conflict rattled global markets. The Stoxx 600 index fell 1.2%, with mining and tech sectors leading losses. US President Trump warned the war could last weeks, causing US and Asian markets to decline and oil prices to surge over 6% to nearly $108 per barrel. Investors also reacted to reports of new US tariffs on pharmaceutical companies and Shell's talks with Venezuela on offshore gas development.