FX.co ★ European Stocks Lower as Tech Weighs

European stocks retreated on Friday, with the STOXX 50 easing 0.2% and the STOXX 600 falling 0.5%. A renewed sell-off in technology shares and growing concerns about stretched AI-related valuations weighed on global risk appetite. Investor sentiment was further dampened by reports that Apple and Microsoft intend to raise prices on certain products, while OpenAI is considering postponing its IPO until 2027.

The technology sector was among the weakest performers: ASML Holding slipped 1.3%, Infineon Technologies lost 3.3%, and STMicroelectronics also declined 3.3%. Outside tech, Siemens Energy (-2.9%), Leonardo (-2.0%), and Safran (-1.3%) traded sharply lower as well.

Offsetting some of these losses, a handful of heavyweight names advanced. Hermes gained 1.2%, Unilever added 0.6%, and Iberdrola rose 0.7%, offering limited support to the broader market.

On a weekly basis, the STOXX 50 is down 0.3% so far, while the STOXX 600 is still up 0.7%, reflecting earlier strength despite Friday’s pullback.