European stocks head for weekly losses as global tech selloff deepens

economictimes.indiatimes.com —

European shares fell sharply on Friday, with the STOXX 600 down 1.6%, erasing weekly gains and putting the index on track for a weekly decline amid a global tech selloff driven by AI valuation concerns. Media, healthcare, and retail sectors led losses, falling over 2% each, as worries grew over potential US restrictions on AI data-centre spending and stretched valuations. Semiconductor firms Siltronic and ASMI also declined. Teleperformance plunged 18% after cutting its full-year revenue outlook, while European equities were less affected than Asian and US markets due to lower AI exposure.


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