European markets tumbled as the Stoxx 600 slipped into a technical correction, triggered by fresh Iranian strikes across the Persian Gulf. The escalation followed a 48-hour ultimatum from US President Donald Trump, demanding Tehran reopen the Strait of Hormuz or face attacks on its power infrastructure. Meanwhile, Poste Italiane launched a €10.8 billion bid to acquire full ownership of Telecom Italia, a move that, if completed, would restore the former phone monopoly to state control three decades after its privatization.
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