Europe open: Shares slump as oil breaches $103 on Hormuz attacks

European stocks opened sharply lower Thursday after oil jumped on renewed attacks on shipping in the Strait of Hormuz. The pan-regional Stoxx 600 slid 1.11% to 623 by 0715 GMT, with major exchanges all down. Brent crude rose 3.7% to $103 a barrel, extending gains from the past week’s incidents as tankers increased efforts to run Tehran’s blockade response. In the U.S., the S&P 500 and Nasdaq retreated 0.2% each from record highs after bond yields hit a fresh 24-year peak. Germany’s exports fell 0.8% in August, while Tesco rose after lifting guidance and Argenx sank after a failed late-stage trial.