{
  "id": 17271320,
  "title": "European shares stumble on AI worries",
  "url": "https://urgent.news/2026/10/29/european-shares-stumble-on-ai-worries",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/737064/business/european-shares-stumble-on-ai-worries"
  },
  "original_language": "en",
  "account": "European shares experienced a decline on Friday due to a global tech selloff, which resulted in billions of dollars being shaved off the market values of certain chip companies. The pan-European STOXX 600 index closed at 646.75 points, marking a 0.36% decrease. Despite a strong month, this drop marked a disappointing end to the period. Amazon and Intel's US results reignited concerns about the exorbitant costs associated with establishing AI infrastructure, leading to a worldwide retreat from technology stocks. Daniela Hathorn, a senior market analyst at Capital.com, noted that while strong AI demand is not a sufficient factor alone, the European technology sector index plummeted 2.75% to its lowest level since July 7, leading to sectoral declines. AT&S, Soitec, and Technoprobe experienced the most significant losses, with declines ranging between 9% and 13%. Despite robust earnings in Europe this quarter, the drop on Friday demonstrated how swiftly optimism can dissipate if global sentiment changes. Market analysts are grappling with the equation, as substantial capital expenditures are being made without a clear return on investment. The eurozone economy grew faster than anticipated in the last quarter, showing remarkable resilience to challenges such as expensive energy, high borrowing costs, and rapid inflation. However, surging government debt and political unrest in France weigh on the outlook. Although Universal Music Group surged 7.89%, topping the STOXX 600, due to an increase in streaming revenue, and BP rose slightly after exceeding expectations in net income, other sectors like the media and pharmaceutical industries also saw gains.",
  "summary": "European shares dropped on Friday, hammered by a global tech selloff that shaved billions off the market values of some chip heavyweights, ending a largely strong month on a sour note.The pan-European...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Copper set for first monthly loss since June as AI spending worries weigh",
        "url": "https://urgent.news/2026/10/30/copper-set-for-first-monthly-loss-since-june-as-ai-spending-worries",
        "published": "2026-10-30T11:40:51.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "European shares stumble at end of best month since June on AI worries",
        "url": "https://urgent.news/2026/10/30/european-shares-stumble-at-end-of-best-month-since-june-on-ai-worries",
        "published": "2026-10-30T17:30:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}