06.11.202613:53:23UTC+00European Stocks Selloff

European equities fell sharply on Friday, with both the Euro Stoxx 50 and the broader Stoxx 600 dropping more than 1.5% as investors pared back exposure to risk assets. Sentiment toward technology names deteriorated amid fears that the US may tighten regulation of the AI sector following the Democrats’ decisive midterm election victory, prompting a broad-based selloff across sectors. Tech shares later recouped part of their losses, mirroring a rebound in US markets as dip buyers stepped in, and ASML Holding climbed nearly 4%. Elsewhere, pressure persisted on heavyweight constituents, with Novartis, HSBC, Roche, Shell, AstraZeneca, SAP, Nestlé, L’Oréal, and Siemens declining between 1.1% and 3.4%. Commodity markets were also under strain: oil was headed for steep weekly losses on optimism that diplomatic efforts will help de-escalate the Iran conflict and restore Middle Eastern energy supplies. Gold weakened as well after stronger-than-expected US employment data bolstered the dollar.