European stocks rise as tech sector gains on US AI expansion signals
European stocks rose Wednesday, with the pan-European STOXX 600 index climbing 0.7%, breaking a two-day lull after US President Donald Trump signaled support for rapid AI data-center expansion. Technology and semiconductor equipment firms led the gains after Trump announced voluntary AI safety standards with tech executives, easing market fears of regulatory bottlenecks or capital expenditure cuts. Investors also weighed German retail and employment data, French inflation, and awaited US PCE inflation figures. The September rally marks a reversal, with the STOXX 600 heading for a nearly 2% monthly decline—its first in six months—due to rising government yields, energy cost shocks, and AI sector friction.