European Stocks Kick Off February in the Red

2026-02-02 08:34 By Joana Taborda 1 min. read

The STOXX 50 fell 0.7% and the STOXX 600 declined 0.5% at the start of February, tracking a global market rout and a broad risk-off move as commodity prices tumbled and concerns over elevated AI valuations resurfaced.

Expectations that Kevin Warsh, the Federal Reserve’s newly nominated chair, could usher in a more hawkish policy stance weighed on the dollar, pressuring commodity markets.

At the same time, The Wall Street Journal reported that Nvidia’s plans to invest $100 billion in OpenAI had stalled, with executives at the chipmaker expressing doubts about the deal.

Mining and oil stocks led the losses.

ASML tumbled nearly 3%, while Shell, TotalEnergies, BP, Rio Tinto and Infineon each fell more than 2%.

In contrast, Nestlé rose 1%, Allianz gained 1.1% and Unilever advanced 2.2%.



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