European stocks hit session lows, extending negative sentiment; tech firms inch higher
A Trader works on the floor of the New York Stock Exchange in New York City, June 24, 2024.
LONDON — European stocks fell on Wednesday, extending negative sentiment seen in the previous trading session.
Major European bourses were down, with the pan-European Stoxx 600 0.63% lower at 2:44 p.m. London time after having risen earlier in the day.
Auto and travel and leisure stocks fell 1.34% and 1.69% respectively, while tech inched 0.36% higher.
This follows rocky trade in the region and elsewhere globally, after a tech-driven selloff. Volatility in the sector appeared to stabilize after chipmaking giant Nvidia rallied Tuesday.
On the data front, figures released by market research company GfK and the Nuremberg Institute for Market Decisions on Wednesday showed that German consumer sentiment is expected to dip in July after four straight months of improving.
Elsewhere, data from France's national statistics office showed that consumer confidence fell slightly to 89 in June.
U.S. stocks opened lower after the S&P 500 rebounded from the rough start to the week.
Asia-Pacific markets were mixed Wednesday as Australia's inflation rate climbed for a third straight month, while semiconductor and related stocks jumped.
Wall Street is likely to shift its attention toward fresh U.S. inflation data on Friday with the release of May's personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge.