Major indices in Germany, France, and the UK decline as global tech shares extend losses amid sector rotation.
European equities turned negative midday, led by a broader tech selloff. The DAX fell 0.54%, while the UKX and CAC slipped 0.24% and 0.15%, respectively, as investors rotated out of growth sectors.
Earlier sessions saw modest gains, but selling pressure in U.S. tech futures accelerated losses across the region. Sweden’s Economic Tendency Indicator rose to 101.7 in June, while household confidence climbed to 93.6, signaling improving sentiment.
Norway’s retail sales dropped 2.1% month-over-month in May, missing expectations, as consumer spending softened ahead of summer.