European Stocks Drop as Threats Continue Ahead of Iran Deadline

European shares dropped as military strikes continued in the Middle East and US President Donald Trump issued new threats ahead of his deadline for a deal with Iran.

The Stoxx Europe 600 Index declined 1% at the close in London, after having earlier risen as much as 0.8%. The media sector outperformed with Universal Music Group NV surging 11% after Pershing Square offered to buy the entertainment company. Tech was led lower by ASML Holding NV, which fell 4.1% after US lawmakers proposed tighter restrictions on exports of chipmaking tools to China.