Live Markets: Counter‑order: sell oil, buy everything else!

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10/03/2026 08:51

Adds blog post

Europe's STOXX  600 up 2.1%

Oil plunges on MidEast de-escalation hopes

Banks, travel stocks lead broad-based bounce

US futures extend Monday's gains

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COUNTER‑ORDER: SELL OIL, BUY EVERYTHING ELSE!

Remarks by U.S. President Donald Trump that the Middle East war could soon be over have triggered a sharp reversal in markets, with traders dumping crude oil and energy stocks and buying almost everything else.

In early European trading on Tuesday, all sectors but one were in the black, with banks .SX7P and travel and leisure .SXTP leading the charge higher, both up more than 3% after recent heavy losses. Oil & gas stocks .SXEP were the only decliners, down around 1%, while crude itself fell 7% and European natural gas futures were down 15%.

The broad-based rebound lifted the region-wide STOXX 600 .STOXX by more than 2%. If sustained, it would mark the index’s biggest jump since the post–Liberation Day rally in April 2025.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: FUTURES RALLY AS CRUDE OIL DROPS CLICK HERE

TRUMP SAYS WAR IS 'VERY COMPLETE' - IRAN HAS OTHER IDEAS CLICK HERE