STOXX 50 and 600 Slump Due to Tech and Aviation Sectors
European stocks closed slightly lower on Thursday (May 21), with the STOXX 50 and STOXX 600 down 0.3% and 0.2%, respectively. Investor sentiment remained subdued despite earlier optimism boosted by US President Trump's comments about the "final stage" of negotiations with Iran.
The technology sector weighed on the market, reflecting weakness in the US. Nvidia's earnings, while beating market expectations, failed to boost investor confidence. ASML Holding fell 0.7%, and SAP fell 0.2%, reflecting a cautious stance ahead of further global developments.
Airline and aerospace stocks also faced headwinds. EasyJet shares were largely unchanged after reporting a first-half loss, while Airbus fell 2.2% amid ongoing uncertainty over the Middle East conflict.
Economic indicators added to the cautious mood. France's preliminary PMI indicated a sharper-than-expected slowdown in private sector activity, reinforcing concerns about the region's growth momentum. Investors will likely monitor geopolitical developments and upcoming economic data to assess the market's short-term direction. (asd)
Source: Newsmaker.id