ROME: European markets finished sharply lower on Tuesday after Turkish fighter jets shot down a Russian warplane near the Syrian border.
The pan-European STOXX 600 finished down over 1.3 percent with all major indices in negative territory. France’s CAC and the German DAX both ended over 1.5 percent lower.
The pan-European STOXX 600 was down over 1.8 percent with all major indices in negative territory. France’s CAC was down more than 2 percent.
U.S. stocks followed Europe and opened lower. Revised third-quarter U.S. gross domestic product came in as expected, up 2.1 percent from the original reading of 1.5 percent.
Oil prices got a boost Monday, rising as much as 3 percent, after tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil.
Saudi Arabia pledged to work toward oil price stability on Monday amid increased uncertainty around security in the Middle East, also lending support to the price.
Brent futures for January were up around $1.32 at $46.17 a barrel around market close in London, up 3 percent on Monday’s close. U.S. West Texas Intermediate (WTI) crude was up $1.23, or 2.8 percent, at $42.96.
