By Dow Jones Newswires Staff


European and Asian stock markets fell Thursday, while U.S. markets were closed for the Juneteenth holiday, but investors continued to steer clear of risky assets amid geopolitical concerns centered on the Middle East.

President Trump told senior aides that he approved attack plans for Iran but was holding off to see if it would abandon its nuclear program, according to people familiar with the deliberations.

Meanwhile, the Federal Reserve on Wednesday held interest rates as expected, with U.S. stocks losing momentum as Fed Chair Jerome Powell maintained a cautious stance on interest-rate cuts.

The Swiss National Bank cut its policy rate by 0.25 percentage point to 0.0% Thursday to rein in the safe-haven franc. Some had expected a deeper cut to negative rates and the franc rose shortly after the decision. The Bank of England is expected to hold later.


--The Stoxx Europe 600 declined 0.5% in morning trading, Germany's DAX fell 0.5% and France's CAC 40 was 0.6% lower in early trade. The U.K.'s FTSE 100 lost 0.4%.

Stocks in Asia closed lower. Japan's Nikkei 225 index dropped 1%, and Hong Kong's Hang Seng declined 2.1%. China's benchmark Shanghai Composite fell 0.8%. Futures tied to U.S. indexes were also in the red.


--Oil prices fluctuated. Brent crude was last up 0.9% to $77.38 a barrel, while WTI was up 1% to $74.24 a barrel after slipping earlier in the session amid elevated volatility as investors weigh prospects of further escalation of the Israel-Iran conflict.

The probability of U.S. military action against Iran appears to be higher than a U.S.-Iran nuclear deal, meaning that oil markets will likely see elevated prices over the next few months, Goldman analysts said in a note.


--Gold futures eased, paring gains made since Israel launched its strikes against Iran. Futures were down 0.7% at $3,384.10 a troy ounce early in Europe. Gold appears to be entering a technical correction phase, XS.com's Linh Tran said in a note.


--The U.S. dollar rose to a one-week high after the Fed held rates and stayed cautious on future cuts, with the DXY dollar index against a basket of major currencies rising to a high of 99.157. Bitcoin, meanwhile, was trading flat at $104,844, according to LSEG.


--Yields on U.K. government bonds were up after the Fed and as investors await the Bank of England decision due at 1100 GMT where it is widely expected to keep rates on hold. The 10-year gilt yield was last up five basis points to 4.547%, Tradeweb data showed.


Write to Barcelona Editors at barcelonaeditors@dowjones.com


(END) Dow Jones Newswires

06-19-25 0438ET