Futures tracking Europe’s major stock indexes dropped over 1% on Thursday, as optimism for a swift resolution to the Middle East conflict waned following U.S. President Donald Trump’s pledge for more strikes on Iran.

Futures ​tracking ⁠the pan-European STOXX 600 index slid nearly 2% by 6:36 a.m. GMT, with contracts tracking Germany's DAX and France's CAC 40 index down 1.7% and 1.6%, respectively.

Market sentiment weakened after Trump said: "We're going to hit them extremely hard over the next two to three weeks. We're going to bring them back to the Stone Ages where they belong."

Brent crude wizzed past $100 ⁠a ⁠barrel, up nearly 7%. Oil-linked stocks and cyclicals such as industrials and banks will be in focus when the market opens.

The STOXX 600 jumped over 2% on Wednesday after Trump stated that Washington would wind up its hostilities with Iran imminently, reflecting the volatility investors have had to navigate for over ⁠a month.

A prolonged delay to the reopening of the Strait of Hormuz, a strategic waterway for major European imports, will continue ​to pressure equities and reinforce already heightened inflation and growth fears.

Interest ​rate futures are pricing in at least two interest rate hikes of 25 basis points ⁠each ‌by ‌the end of this year, according to ⁠LSEG-compiled data. Markets had been ‌pricing in no change to monetary policy by the European ​Central Bank (ECB) before the war.

Among ⁠individual movers, Novo Nordisk's shares will ⁠be eyed after U.S.-based rival Eli Lilly's weight-loss ⁠pill got approval ​from the U.S. Food and Drug Administration (FDA).