European stocks surged to record highs this week, with the STOXX 600 and Germany’s DAX hitting all-time peaks. Investors are betting against an imminent US rate hike, boosting cyclical stocks. Defence shares also climbed amid geopolitical tensions. Signs of easing inflation and a balanced economic outlook in the Eurozone are further supporting the rally, making European markets attractive due to lower valuations.
Oil Price Today (August 26): Crude oil tanks 6% in two days to hover near $85. What’s behind the decline?
Brent crude futures were down $2.35, or 2.65%, at $86 a barrel, while U.S. West Texas Intermediate crude futures fell $1.94, or 2.36%, to $80.42.