European Stocks Slip From Record Highs

2026-02-03 15:57 By Joana Ferreira 1 min. read

European bourses reversed early gains to trade lower Tuesday, after hitting record highs in the morning session, led by sharp declines in technology and media stocks.

The Stoxx 50 fell 0.2%, while the broader Stoxx 600 slipped 0.1%.

Tech shares tumbled as much as 4%, their largest one-day drop since April 2025, amid mounting investor fears over the disruptive impact of artificial intelligence.

Amadeus IT, SAP, and ASML Holding fell 6%, 5%, and 3%, respectively.

Media stocks dropped more than 5%, marking their steepest daily decline since March 2020, with Publicis plunging nearly 9% after the advertising company’s outlook failed to ease concerns over AI’s effect on its business.

Elsewhere, shares of Danish offshore wind giant Orsted slipped, despite a US court ruling allowing the company to resume its Sunrise Wind project off the coast of New York, while mining stocks were among the top performers as gold and silver rebounded from a historic two-day selloff.



News Stream
European Stocks Close Mixed
European stock indices closed mixed on Wednesday amid an uncertain macroeconomic backdrop as markets parsed key earnings reports. The Euro STOXX 50 inched lower by 0.2% to 6,267 and the STOXX Europe 600 rose 0.2% to 643. ASML raised its guidance for the near future and announced plans to expand production capacity following better-than-expected second-quarter results, driven by strong demand for chip producers. Still, another session of sharp losses for semiconductor manufacturers drove the stock to close flat, despite a 7% increase in morning deals. Meanwhile, luxury brands rose sharply after Richemont posted strong results, lifting their shares by 6%. LVMH and Hermes gained around 2.5% each. On the other hand, banks fell as sovereign yields increased, denting the outlook for credit. Energy prices remained elevated as strikes between the US and Iran escalated, denting hopes of natural gas and fuel exports from the Middle East.
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European Stocks Tread Water
European stocks traded cautiously on Wednesday, with both the STOXX 50 and STOXX 600 fluctuating around the flatline after posting modest gains in the previous session. Investors kept their attention on the corporate earnings season, although lingering uncertainty in the Middle East continued to drive oil prices higher, weighing on market sentiment. ASML surged more than 6% after raising its 2026 financial guidance and announcing plans to expand production capacity, following better-than-expected second-quarter results driven by strong demand for AI-related technologies. Richemont also gained more than 5% after reporting stronger-than-expected second-quarter sales. Other notable gainers included LVMH (+2.1%) and Hermes (+2.5%). In contrast, Nestle (-1.3%), Siemens (-0.6%), and SAP (-1.1%) traded lower.
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European Stocks Poised for Lower Open
European equity markets were set to open lower on Wednesday, giving back some of the previous session’s gains as investors continued to assess escalating tensions in the Middle East that drove oil prices higher. The US launched another round of strikes against Iran while reinstating its naval blockade of Iranian ports near the Strait of Hormuz, raising fresh concerns over regional stability and energy supplies. Meanwhile, softer-than-expected US inflation data reduced expectations of an imminent Federal Reserve interest rate hike, lending some support to broader equity markets. In Europe, investors will focus on Eurozone industrial production and final Spanish inflation figures, while the corporate earnings calendar remains light. In premarket trading, Euro Stoxx 50 futures slipped 0.1%, while Stoxx 600 futures declined 0.2%.
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