European Stocks Pull Back from Records

2026-06-23 15:48 By Andre Joaquim 1 min. read

European equity indices closed sharply lower from records on Tuesday as a selloff in the tech sector drove markets to trim their position in risk.

The Euro STOXX 50 fell 1.2% to 6,235 and the STOXX Europe 600 dropped a softer 0.5% to 636.

ASML slipped 5.5% and Infineon lost 5.8% amid concerns that hyperscalers overspent on AI infrastructure and will be forced to slow expenditure should returns fail to match their guidance.

The latest triggers were more cash being raised by SpaceX after its IPO, while Korean SK Hynix announced it would slow production of AI chips to allocate capacity on commodity DRAM chips.

Industrial giants with exposure to datacenter projects also retreated, with Siemens and Schneider dropping 2.5% and 4%, respectively.

On the other hand, pharmaceuticals closed higher, with Sanofi gaining 1.5% after the EU approved its Cenrifki treatment.

PMI data reflected a softer-than-expected contraction in the Eurozone private sector activity.



News Stream
European Stocks Pull Back from Records
European equity indices closed sharply lower from records on Tuesday as a selloff in the tech sector drove markets to trim their position in risk. The Euro STOXX 50 fell 1.2% to 6,235 and the STOXX Europe 600 dropped a softer 0.5% to 636. ASML slipped 5.5% and Infineon lost 5.8% amid concerns that hyperscalers overspent on AI infrastructure and will be forced to slow expenditure should returns fail to match their guidance. The latest triggers were more cash being raised by SpaceX after its IPO, while Korean SK Hynix announced it would slow production of AI chips to allocate capacity on commodity DRAM chips. Industrial giants with exposure to datacenter projects also retreated, with Siemens and Schneider dropping 2.5% and 4%, respectively. On the other hand, pharmaceuticals closed higher, with Sanofi gaining 1.5% after the EU approved its Cenrifki treatment. PMI data reflected a softer-than-expected contraction in the Eurozone private sector activity.
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