European stocks decline amid tech selloff
European stocks opened trading lower by 0.46%, primarily affected by a decline in the technology sector despite recording weekly gains. Zalando’s shares fell by 4.4% following the initiation of an investigation by the German Financial Regulatory Authority into its 2025 financial statements, which led to a 0.5% drop in the retail sector. Additionally, the technology sector declined by 1.5% due to rising memory chip costs and the impact of demand for artificial intelligence.
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