FX.co ★ Tech Sell-Off Extends Across Europe

European equities retreated on Tuesday, with the STOXX 50 down 0.9% and the STOXX 600 lower by 0.8%, as a broad-based sell-off in technology shares weighed on sentiment following yesterday’s weakness on Wall Street. Investor unease is mounting that the sector’s powerful rally may have become overstretched, with growing scrutiny of AI-related investments and valuations. Technology names were among the worst performers, including STMicroelectronics (-4.7%), ASML Holding (-3.5%), and Infineon Technologies (-3.3%). The mining sector was another clear laggard, with Anglo American (-3.6%), Glencore (-3.4%), and Rio Tinto (-2.9%) all under pressure. By contrast, healthcare names outperformed: Sanofi rose 1.5% after the EU approved its Cenrifki treatment. On the macroeconomic front, preliminary PMI data from Germany came in below expectations, reinforcing concerns about persistent weakness in private-sector activity and the broader economic outlook.