European markets dodge the worst of global selloff

nettavisen.no (Swedish) —

European stock markets avoided the severe downturn that hit Asian and US exchanges, with Nordea investment director Robert Næss attributing the resilience to Europe's lower exposure to major AI companies. US indices saw their worst day since April 2025, with the S&P falling 4.36 percent and the "Magnificent Seven" tech giants losing $1,040 billion in market value. Asian markets followed, with Seoul's KOSPI dropping 7.84 percent and trading temporarily halted. Næss said the AI bubble has "started to leak" but not burst, noting that half of US stocks actually rose. He expects more realistic valuations for tech companies and draws parallels to wind power's declining popularity.


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