Technology Pressure Weighs Down European Stocks!
European stock markets weakened on Friday (June 26th) as pressure from the technology sector again weighed on global market sentiment. The STOXX 50 index fell 0.2%, while the STOXX 600 weakened 0.5% amid growing concerns about overvalued artificial intelligence (AI) stocks.
Market sentiment was further weighed down by reports that Apple and Microsoft planned to raise the prices of several of their products. Furthermore, news that OpenAI was considering postponing its initial public offering (IPO) until 2027 also made investors more cautious about the prospects of the technology sector.
The technology sector was the main market drag, with ASML Holding falling 1.3%, while Infineon Technologies and STMicroelectronics each fell 3.3%. Siemens Energy also weakened, falling 2.9%, Leonardo falling 2.0%, and Safran falling 1.3%.
Nevertheless, some stocks still managed to post gains and withstand further pressure. Hermes rose 1.2%, Unilever gained 0.6%, and Iberdrola added 0.7%. On a weekly basis, the STOXX 50 fell 0.3%, while the STOXX 600 still gained 0.7%, indicating that European markets remain cautious amid pressure from the technology sector. (asd)
Source: Newsmaker.id
