European Shares Poised For Lower Open As Tech Selloff Returns

European stocks may open on a sluggish note Friday as AI rally momentum waned amid challenging macroeconomic conditions.

Goldman Sachs said in a research report that a downturn in AI capex or a spike in equity and bond volatility could trigger a “catch down” reversal and that the equity market today is ‘one big trade’ rather than ‘a market of stocks.’

U.S. stock futures edged lower and Asian markets were deep in the red on concerns over soaring memory chip costs for buyers and volatile chip sector.