India, July 14 -- European stocks may drift lower on Tuesday amid lingering concerns about artificial intelligence spending and escalating U.S.-Iran tensions.
Investors also await key U.S. inflation readings, earnings from major U.S. banks, including Goldman Sachs and JPMorgan Chase, and congressional testimony from U.S. Federal Reserve Chair Kevin Warsh for directional cues. Brent crude futures extended overnight gains to surge toward $85 a barrel after the U.S. reinstated a naval blockade on Iranian shipping through the Strait of Hormuz and proposed to charge a 20 percent transit fee on cargo passing through the strategic waterway.
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