STOXX 600 falls as US Democratic win fuels AI worries
Business
European stock markets slid on Friday, with the STOXX 600 down 1%.
Investors are uneasy about the future of AI spending, especially after a Democratic win in the US Congress raised concerns that a Democrat-led Congress could seek curbs on AI data-centre spending.
Germany's market felt it even more, dropping 1.9%.
Insurance down 2.6% after JPMorgan downgrades
Insurance stocks were hit hardest, down 2.6% after big German reinsurers got downgraded by JPMorgan.
Tech stocks slipped too, but just by 0.2%.
On the bright side, clean energy shares went up thanks to positive policy buzz, and travel stocks rose nearly 1% as oil prices looked set to ease.
Even with all this volatility, Europe's STOXX 600 still managed a small weekly gain.