Tech Sell

Tech Sell-Off Extends Across Europe

European equities traded lower on Tuesday, with the STOXX 50 declining 0.9% and the STOXX 600 falling 0.8%, as a broad-based sell-off in technology stocks weighed on sentiment following weakness on Wall Street yesterday.

Investor concerns are growing that the technology sector's strong rally may have become overstretched, with increasing questions around AI-related investments and valuations.

Tech stocks were among the worst performers, including STMicroelectronics (-4.7%), ASML Holding (-3.5%), and Infineon Technologies (-3.3%).

The mining sector was another notable laggard, namely Anglo American (-3.6%), Glencore (-3.4%), and Rio Tinto (-2.9%).

In contrast, healthcare stocks outperformed.

Sanofi gained 1.5% after the EU approved its Cenrifki treatmen.

On the macroeconomic front, preliminary PMI data from Germany came in below expectations, reinforcing concerns about continued weakness in private-sector activity and the broader economic outlook.

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