STOXX 600 Falls 0.9% to Two-Week Low as Oil Jumps 4% and AI Stocks Slide
Updated
Updated · Reuters · Jun 8
STOXX 600 Falls 0.9% to Two-Week Low as Oil Jumps 4% and AI Stocks Slide
3 articles · Updated · Reuters · Jun 8
Summary
Europe's STOXX 600 dropped 0.9% to 616.04 by 0812 GMT, hitting a two-week low as all major regional indexes traded in the red.
More than 4% gains in crude followed weekend fire between Israel and Iran, pressuring energy-sensitive shares including Lufthansa and Air France, both down over 2%.
Tech stocks fell 2.1%, tracking a global AI-led selloff after sharp U.S. losses late last week; BE Semiconductor lost 3.8% and Infineon slipped 1.7%.
Thursday's ECB decision is the next policy focus, with markets pricing in a 25-basis-point hike after a strong U.S. jobs report reinforced expectations for higher-for-longer rates.
Monte dei Paschi di Siena bucked the broader decline, jumping 9.5% after Intesa Sanpaolo launched a €30.6 billion unsolicited cash-and-share bid, while Intesa fell 3.2%.