European equity benchmarks ended lower after spending most of the session in positive territory, reversing course in tandem with the afternoon sell-off on Wall Street as the sharp rotation out of technology stocks weighed on global risk appetite. The Euro STOXX 50 slipped 0.2% to 6,050, while the STOXX Europe 600 declined 0.4% to 619. Companies exposed to software services and data-centre infrastructure came under particular pressure as renewed doubts emerged over the durability of the sector’s recent rally. Infineon, SAP, Schneider, and Siemens Energy fell between 2% and 5.5%.
Banks also finished weaker ahead of an anticipated interest-rate increase by the European Central Bank later this week, exacerbating concerns over already fragile credit conditions. Santander, ING, and Nordea each lost around 1%. In London, GSK edged 0.5% lower following reports that the company is in talks to acquire oncology-focused biotech Nuvalent.
