European Stocks Open Mixed as South Korea’s Kospi Sinks 5.1% in AI Sell-Off
Updated
Updated · Euronews · Jun 5
European Stocks Open Mixed as South Korea’s Kospi Sinks 5.1% in AI Sell-Off
3 articles · Updated · Euronews · Jun 5
Summary
London and Frankfurt slipped at the open, with the FTSE 100 down nearly 0.4% and the DAX off 0.3%, while Paris and Madrid each rose 0.3% as Europe absorbed the latest AI-led rout.
South Korea’s Kospi tumbled 5.1% after SK Hynix fell 8.6% and Samsung Electronics lost 5.4%, extending pressure from Wall Street where Broadcom sank 12.6% on weak guidance.
U.S. markets sent a mixed signal overnight: the S&P 500 rose 0.4% and the Dow jumped 1.7% to a record, but the Nasdaq edged down 0.1% as investors rotated out of expensive AI names.
Friday’s focus has shifted to U.S. nonfarm payrolls, with markets pricing nearly a 40% chance of a Fed rate hike by year-end under new Chair Kevin Warsh.
Oil stayed elevated despite a pause, with Brent at $94.73 and the Strait of Hormuz still effectively closed, keeping inflation and growth risks in view alongside Middle East ceasefire uncertainty.