European shares declined on Friday as fears of escalating Middle East tensions drove oil prices and bond yields higher. The pan-European STOXX 600 index fell by 0.2% to 654.81 points in early trading. Brent crude oil rose to approximately $91.41 per barrel, up 0.6% for the day. Germany’s 10-year Bund yield and France’s 10-year yield reached their highest levels since 2011 and a 16-year peak respectively. These movements reflect investor concerns that geopolitical instability could sustain elevated energy prices, contributing to inflationary pressures within the eurozone.
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