Major regional bourses fell, with Germany’s benchmark shedding 1.2% to its lowest since early May, while France’s CAC 40 dropped 0.7% to a one-month low. Tech stocks that had been the spotlight of recent market volatility lost 2%, while AI equipment makers that have benefited from the technology boom, such as Schneider Electric and Siemens Energy, were down 2% and 7%, respectively. Thursday’s global rally following Nvidia‘s upbeat forecasts proved short-lived as worries of a potential AI bubble resurfaced and a mixed U.S. jobs report fanned uncertainty over the Federal Reserve‘s December policy rate decision.
The STOXX is on track for weekly losses of nearly 3%, its biggest weekly drop since the unveiling of U.S. tariffs sent global markets into a tailspin between late March and early April. Among individual stocks, French water and waste management group Veolia VIE.PA lost 1% after agreeing to buy U.S.-based hazardous waste company Clean Earth from Enviri for $3 billion.
