FX.co ★ European Stocks Set for Lower Open

European equity markets were set to open lower on Wednesday, on track for a third straight session of losses, as renewed tensions in the Middle East pushed oil prices higher and reignited worries about inflation and the path of interest rates. The US launched new air strikes on Iran following recent attacks on vessels transiting the Strait of Hormuz, and also revoked a waiver that had allowed Iran to export crude to global markets. Risk sentiment remained fragile, with investors continuing to rotate out of semiconductor and AI-related stocks amid mounting concerns over stretched valuations. In Europe, attention will focus on French current account data and earnings from UK-based airline Jet2. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were both down about 0.3%.