Europe’s Stoxx 600 slips 0.25% as AI selloff hits tech shares
What's new: The tech sector fell 2% after Amazon and Intel results revived doubts about returns on heavy AI spending.
European shares edged lower Friday as a renewed selloff in technology stocks dragged on the region’s main benchmark. The pan-European Stoxx 600 slipped 0.25% to 647.49 by 0809 GMT, though it remained on track for weekly and monthly gains. Technology shares dropped 2% after earnings from Amazon and Intel sharpened investor worries over whether big AI outlays will produce enough returns. Political uncertainty in France also weighed on sentiment during the month. Strong results from ASML, Shell and Airbus helped limit losses, while BP rose 1.1% after reporting third-quarter net income above expectations and Puma gained 4% after quarterly earnings. Bayer added 4.1% after winning a Roundup cancer trial.