EUAD is trading 3.2% down today as escalating conflict between the US and Iran drives oil prices above $100 per barrel, reversing the ETF's recent rally.
- Geopolitical tensions intensified following Iran's rejection of a US ceasefire proposal and an Israeli strike on Iranian naval leadership.
- The downturn follows a 2.3% gain on March 25, with current industrials weakness tracking broader market declines in the S&P 500 and Nasdaq.
- Surging energy costs and new fees in the Strait of Hormuz have dampened investor sentiment across the European aerospace and defense sector.