European Stocks Mixed as Tech Jitters Weigh on Sentiment

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European stocks were mixed on Friday, with the Stoxx 600 index eking out slight gains after initial losses. Investor worries about artificial intelligence capital expenditures and the disruptive potential of new AI coding tools continued to weigh on the market, particularly tech stocks. Stellantis shares plunged after the company said it would book charges of around $26.15 billion as part of a shift away from electric vehicles, dragging down other European car names.

Why it matters

The mixed performance of European stocks reflects the ongoing uncertainty and volatility in the market, driven by concerns about the impact of AI and other emerging technologies on various industries. The selloff in Stellantis and other automakers highlights the challenges facing the industry as it navigates the transition to electric vehicles and other technological changes.

The details

The FTSE 100, CAC 40, DAX, and Dutch AEX all fell at the opening bell, dragged down by tech stocks. However, the Stoxx 600 index would recover close to midday, eking out slight gains. Stellantis shares plunged after the company said it would book charges of around $26.15 billion as part of a shift away from electric vehicles, impacting other European car names. Officials from Iran and the U.S. also met in Oman for talks hoping to avert a new conflict in the Middle East, as the U.S. builds up forces there.

• On Thursday, President Trump said that he wanted a new strategic-arms treaty with Russia after the lapse of the last major nuclear pact with the country.
• Two days of Ukraine peace talks appeared to show only modest progress.