28.04.202616:07:23UTC+00European Stocks Drop for 7th Session

European stocks fell for a seventh consecutive session on Tuesday, as persistent concerns over tight energy supplies and the risk of stagflation weighed on sentiment. The Eurozone’s STOXX 50 declined 0.3% to 5,843, while the pan-European STOXX 600 also slipped 0.3% to 607.

Energy prices extended their rally amid an ongoing standoff between the US and Iran over the conditions for ending their conflict, adding pressure on European economies that rely heavily on energy imports. The move higher in prices came despite the UAE’s exit from OPEC and OPEC+.

Tech and energy-related stocks were among the notable laggards. ASML and Siemens Energy each dropped more than 3%, mirroring weakness in AI hardware and power operators globally following reports that OpenAI missed internal targets, fueling concerns that the current pace of AI infrastructure investment may not be justified.

In other corporate news, Air Liquide fell 3.2% after missing revenue estimates for the last quarter, though the company signaled it plans to increase investment. Bayer declined 4.6% after the US Supreme Court was split in the pharmaceutical group’s ongoing legal battle over its Roundup weedkiller.