European Stocks at One-Month Lows
The STOXX 50 fell 1.2% and the STOXX 600 dropped 1.1% on Tuesday, marking a fourth consecutive session of losses and reaching their lowest levels in a month.
The declines mirrored a broader global risk-off mood fueled by renewed concerns over stretched valuations in AI-related stocks ahead of Nvidia’s quarterly results this week. Sentiment was further weighed down by anticipation of key US economic data set amid worries that the figures could discourage the Fed from cutting interest rates again.
The banking sector was among the biggest laggards, with Societe Generale (-3.2%), Deutsche Bank (-3.3%) and Barclays (-3%) all sharply lower. ABB lost 2.8% after reaffirming its top-line growth forecasts, disappointing investors. Umicore plunged more than 11%.
On the upside, Intermediate Capital jumped 8.1% after posting strong half-year results, while Roche surged nearly 7% following positive late-stage trial data for its breast cancer pill giredestrant. Rheinmetall gained about 3.5%.
Source: Tradingeconomics.com
