Global Market: European shares fall as global tech selloff, rate fears weigh on sentiment
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓European shares fell on Thursday as a global tech selloff and rising borrowing costs hit investor sentiment.
- ✓The pan-European STOXX 600 index dropped 0.35% to 635.54 points by 0709 GMT.
- ✓While tech stocks led the losses, strong earnings from companies like Ericsson and Pernod Ricard helped support the market today.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 7 Minute(s)
- Market Focus
- India Economy
Synopsis
European shares faced a decline as technology stocks led the losses amid global selloffs and rising borrowing costs. The pan-European STOXX 600 index reported a 0.35% drop, reflecting investor sentiment adjustments after strong US inflation data. Companies involved in artificial intelligence investments experienced increased pressure, especially regarding their financing needs. However, certain corporate earnings, like those from Ericsson and Pernod Ricard, offered some support to the market.
European shares fell on Thursday as a global selloff in technology stocks and concerns over rising borrowing costs dampened investor sentiment, while corporate earnings offered some support, Reuters reported.
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The Economic Times
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