FX.co ★ European Stocks Halt Selloff

European stocks experienced a modest uptick on Wednesday, interrupting a four-day decline as market participants continued to evaluate the Federal Reserve's monetary policy stance and determine fair values for the speculative tech sector. The Eurozone's STOXX 50 edged up by 0.3%, reaching 5,552, while the pan-European STOXX 600 crept minimally above the flatline to close at 563. Despite this mild recovery, investor sentiment remained cautious due to ongoing concerns about the overvaluation of AI and tech stocks, particularly as Nvidia prepared to announce its quarterly results after the North American markets closed. Companies involved in AI saw mixed performances ahead of this key announcement, with ASML gaining 2.5% and Infineon experiencing a slight decline. Meanwhile, Nokia fell by 7% after reorganizing its AI business into a separate entity, following Nvidia's $1 billion investment. Elsewhere, the pharmaceutical sector showed strength, with major companies like Roche, AstraZeneca, and Novo Nordisk posting gains.