Economic TimesLean R·
Tech selloff weighs on European shares ahead of ECB meeting next week
European stocks edged lower Friday, influenced by a global tech sell-off and Middle East tensions. Investors await the European Central Bank meeting and corporate earnings reports next week. Rising oil prices and subdued reactions to strong results complicated the market backdrop. Tech stocks experienced a significant decline this week, impacting major AI beneficiaries. Utilities and defense sectors saw gains, while luxury brands faced headwinds from reduced tourist spending.
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