European Stocks Vulnerable to AI-Induced Customer Flights Extend Losses
Dow Jones09-23 17:16
0916 GMT - European stocks vulnerable to increasingly footloose customers extended losses Wednesday. Companies that benefit from sticky customers who don't leave for better alternatives fell sharply in the U.S. and Europe Tuesday. Investors grew concerned that Meta's AI-enabled Muse app and its peers "would disrupt businesses that have so far benefited from consumer inertia," Swissquote's Ipek Ozkardeskaya writes. Telecoms and insurance stocks extend losses Wednesday. Deutsche Telekom falls 1.2%, while Orange and Vodafone both lose around 1.7%. Insurers Allianz and Axa slip 1.4% and 0.5%, while financial advice group St James's Place drops 1% in London.
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