European stocks slide as tech losses hit global markets

European stock markets fell Friday, with major indices down between 0.96% and 1.45%, following significant losses in Asian and American markets. The declines reflect investor concerns about the technology sector's growth prospects. The Nikkei in Tokyo closed down 5.96%, while Seoul's Kospi plunged 6.02%. New York's tech-heavy Nasdaq fell 5.52% Thursday, its steepest drop since April 2025. European chipmakers like ASML, Infineon, and STMicroelectronics were among the hardest hit, though European indices have outperformed US markets year-to-date. The selloff stems from political resistance in the US to data center construction, which is slowing artificial intelligence development. Analysts note the AI investment cycle is transitioning from infrastructure building to broader adoption, a phase that is proving challenging for semiconductor companies.