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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 plunged 17.7% after the chipmaker forecast third-quarter revenue slightly below market expectations. The sell-off reflects growing investor anxiety about inflationary pressures from rising energy costs and the potential for central banks to maintain or increase tightening measures.
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Published: Fri, Jul 24, 2026 · 06:21 AM
The pan-European Stoxx 600 index fell 1.3% to 638.5 points, marking its largest decline in two weeks.
Market Overview
European stocks suffered their steepest drop in two weeks, driven by a surge in oil prices and renewed concerns over interest rate hikes.
- Tech stocks slipped 2.9%, led by STMicroelectronics, which fell 17.7% after the chipmaker forecast third-quarter revenue slightly below market expectations.
(Source: Reuters)
Source
The Business TimesRegional
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