European Shares Seen Broadly Lower At Open
Technology stocks led losses after Amazon and Intel reignited concerns that heavy AI spending may not deliver expected returns, with the sector down 2%.
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Global Markets | European shares stumble at end of best month since June on AI worries
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 equities closed today's trades on Friday on a decline, influenced by a global sales wave in the technology sector, which led to a decline in the market value of a number of major electronic chip manufacturers, thus ending the October trades on losses, despite strong monthly gains.
European shares ease as AI-driven tech selloff deepens
Oct 30 (Reuters) - European shares inched lower on Friday as technology stocks came under pressure from renewed concerns over AI investment returns, although the benchmark index remained on track for a monthly gain thanks to strong corporate earnings...
Concerns about the high costs of artificial intelligence and the fall in shares of chip companies sent European stocks lower.
European markets came under strong pressure.
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