European Indexes Turn Negative as Tech Woes Deepen

Dow Jones16:48

0848 GMT - European indexes turn negative as a selloff in technology stocks deepen. The Europe-wide Stoxx 600 falls 0.3%, with energy-intensive sectors struggling as oil prices advance. The industrials-heavy German DAX falls 0.25%. Defense giant Rheinmetall falls 2.3% while semiconductor company Infineon loses 2.3%. The CAC 40 falls 0.6% as luxury stocks are split, with Kering soaring 11% while Hermes tumbles 7.6% after both posted earnings. Banks weigh on Spain's IBEX 35--down 1.5%--with CaixaBank down 6.1%. Italy's FTSE MIB is down 0.2%. The Dutch AEX loses 0.5% as tech companies struggle to reverse negative momentum. ASM International falls 8%, while ASML loses 2.1%. London's FTSE 100 holds onto its gains, rising 0.1% as higher oil prices support Shell and BP.

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