European tech stocks hit worst day since July as AI spending fears trigger global sell-off

European technology shares fell sharply on Friday, marking their worst day since July, as a global sell-off driven by concerns over high AI infrastructure costs erased billions from chipmakers' market values. The decline ended a largely strong month on a negative note. Results from Amazon and Intel rekindled worries about AI spending, prompting a worldwide pullback from tech stocks. The pan-European STOXX 600 closed 0.36 percent lower, while the tech sector index dropped 2.75 percent, with AT&S, Soitec, and Technoprobe leading losses. In New York, the Nasdaq 100 fell 3.5 percent, on track for its worst month since March 2025, while Intel faced a record one-day drop of 30 percent. Elsewhere, BP rose on strong earnings, and AstraZeneca jumped 7 percent after announcing a restructuring.