global markets european shares tumble on iran war linked inflation woes

The article reports a broad equity sell-off in Europe driven by concerns over U.S.-Iran tensions escalating into conflict, which could disrupt energy supplies and fuel inflation. The channel is primarily input_cost (higher oil/gas prices) and regulatory (potential sanctions). The impact is global but concentrated in Europe and energy-sensitive sectors. Winners: energy producers (higher prices). Losers: energy-intensive industries (materials, airlines, chemicals) and semiconductor firms (higher input costs, demand uncertainty). The mechanism is weak because the article does not specify actual supply disruptions or price moves; it is sentiment-driven.