It is a holiday in most of Europe but markets will be open; UK and US closed though

Markets across much of Europe observe public holidays (Whit Monday), yet trading remains open on major platforms like Euronext and Xetra while the Swiss exchange is closed. London is closed for the Spring Bank Holiday and US markets are shut for Memorial Day, producing thin liquidity and a near-absent presence of large institutional participants. The note warns that subdued participation can exaggerate price moves to headlines — even amid growing optimism around US–Iran developments — and advises caution in interpreting intraday volatility; normal market conditions are expected to return the following trading day.