European stocks fall in tech sell-off
European stocks generally declined, led by the technology sector which fell by 3.2%, following a global sell-off of tech stocks and investor concerns over rising borrowing costs due to U.S. inflation data that exceeded expectations. The surge in inflation has increased expectations of continued monetary tightening by the Federal Reserve, putting more pressure on companies that rely on borrowing to finance their investments in artificial intelligence and related infrastructure. Additionally, the Stoxx 600 index decreased by 0.35% to 635.54 points, amid a decline in European technology stocks and those related to credit markets and capital expenditure.
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