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FinanceEuropean shares post biggest drop in two weeks, tech stocks lead decline
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European shares experienced their largest decline in two weeks, with the pan-European Stoxx 600 index falling 1.3% to 638.5 points. The drop was driven by a surge in oil prices and renewed concerns over interest rate hikes. Technology stocks were particularly hard hit, slipping 2.9%, led by STMicroelectronics which fell 17.7% after the chipmaker forecast third-quarter revenue slightly below market expectations. The market downturn reflects investor anxiety over inflationary pressures from rising energy costs and the potential for central banks to tighten monetary policy further.
Source report
Published: Fri, Jul 24, 2026 · 06:21 AM
The pan-European Stoxx 600 index fell 1.3% to 638.5 points, posting its largest decline in two weeks, driven by a surge in oil prices and renewed concerns over interest rate hikes.
Key Highlights
- Tech stocks slipped 2.9%, led by STMicroelectronics, which fell 17.7% after the chipmaker forecast third-quarter revenue slightly below market expectations.
- The decline marks the sharpest single-day drop for European equities in two weeks.
BENGALURU — European markets were rattled as rising oil prices and persistent rate hike fears weighed on investor sentiment, triggering broad-based selling across sectors.
Source
The Business TimesRegional
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