European markets closed with losses on Monday, finishing a volatile session in which stocks were hit by Middle East worries. United States President Donald Trump said that Iran will never have a nuclear weapon as Iran held a massive funeral for the slain General Qassem Soleimani.

Meanwhile, oil prices fell from earlier highs, while gold remained near a seven-year high amid surging tension in the Middle East.

The DAX closed 0.70% in the red as Covestro led the losses. In Paris, the CAC 40 lost 0.54% with STMicroelectronics as the biggest loser. The FTSE 100 fell 0.62%; NMC Health dropped over 4%. The euro traded 0.22% higher against the dollar at 5:50 pm CET, buying 1.11865, while the pound jumped 0.66% versus the greenback, going for 1.31597 at the same time.