2024-02-13 18:13:15
The decline in technology stocks from the highest level in more than two decades also contributed to the decline in stocks.
Stock movements
The STOXX 600 index closed down 1 percent following data showed consumer prices in the United States rose more than expected in January, amid rising housing and health care costs.
Technology sector stocks led the decline, as its index fell 2.7 percent from the highest level in 23 years that it recorded in the previous session.
Shares of chip company ASML, Semiconductor Company PA and Infineon fell between three and five percent following its peer Celtronic said it expects its earnings before interest, taxes and depreciation to fall “significantly” in 2024.
The real estate stock index also fell 2.5 percent to its lowest level since December.
European stocks rose to a nearly two-year peak in the previous session, driven by a major rally on Wall Street thanks to optimism related to artificial intelligence and cautious comments from European Central Bank officials.
Traders currently expect regarding a 60 percent chance that the European Central Bank will cut interest rates in April.
1707853238
#European #stocks #fall #inflation #data