Global Markets | European shares stumble at end of best month since June on AI worries
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓European shares dropped on Friday as a global tech selloff hit the STOXX 600 index, which closed 0.36% lower at 646.75 points.
- ✓Investors worried about high AI infrastructure costs, despite strong earnings from firms like Universal Music Group.
- ✓Daniela Hathorn said, "Strong AI demand is no longer enough on its own."
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Synopsis
European stock markets slid as a global selloff in technology rattled investors, with the pan-European STOXX 600 index closing in negative territory. Concerns over soaring AI infrastructure costs loomed large. However, to add a silver lining, euro zone growth exceeded forecasts amid climbing inflation and borrowing costs, while firms such as Universal Music Group and Sanofi flaunted impressive earnings in these challenging times.
European shares dropped on Friday, hammered by a global tech selloff that shaved billions off the market values of some chip heavyweights, ending a largely strong month on a sour note.
The pan-European STOXX 600 index closed 0.36% lower at 646.75 points, despite recording its best month since June.
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The Economic Times
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