European stocks record biggest drop since late March as rising oil prices and bond market sell-off weigh on markets

```htmlEuropean stock markets recorded their largest decline since late March, as the latest round of oil price increases intensified inflation concerns and worsened the global bond sell-off. The Stoxx Europe 600 Index fell 1.5% on Friday, with risk sentiment cooling noticeably after bond yields rose. Interest rate-sensitive sectors such as banking, utilities, and real estate generally weakened, while a correction in metal prices like gold and copper dragged mining stocks lower. Energy stocks were among the few highlights, while the healthcare and consumer staples sectors outperformed the broader market, benefiting from investors shifting towards defensive assets. Brent crude oil surged above $109 per barrel after US President Donald Trump told Fox News that the United States does not need the Strait of Hormuz to remain open. Paul Skinner, Chief Investment Officer at Wellington Management, said: "Amid continued turmoil in the bond market, persistent inflation issues, and the summit's failure to provide solutions for the Strait of Hormuz, I expect the market will certainly experience some volatility in the future."```