Global Market: European shares decline as Middle East tensions weigh; airlines, autos lead losses

European shares declined with the STOXX 600 index down 0.6% at 642.22 points as US-Iran strikes and revocation of Tehran's oil sale licence pushed crude prices higher, raising inflation concerns. Airline and auto stocks led losses, with Lufthansa dropping 4% after a Citigroup downgrade to sell, while Air France and Wizz Air fell over 2%. Risk-off sentiment was reinforced by South Korean equities entering a bear market and the Nasdaq closing below its 50-day moving average.