NEWS· 1 min read
European stocks retreat on AI concerns
European equities pulled back from the previous session's record highs on November 13. The STOXX 600 fell 0.2% to 662.64 points by 08:08 GMT.
Technology stocks declined 0.6%, with Siltronic and Aixtron losing more than 1%. Richemont shares dropped 7% after quarterly sales growth slowed to 13% from 20%.
Uncertainty surrounding artificial intelligence investment weighed on European technology shares following Nvidia's leadership change. Nevertheless, the STOXX 600 remained up more than 2% for the week. Goldman Sachs raised its 12-month index target to 700 from 695 points.