Stoxx 600, FTSE 100, metals, AI sell-off
FILE PHOTO: Bull and bear symbols for successful and bad trading are seen in front of the German stock exchange (Deutsche Boerse) in Frankfurt, Germany, February 12, 2019.
Kai Pfaffenbach | Reuters
European shares look set to open in mixed territory on Friday, after AI fears triggered another sell-off on Wall Street overnight.
Futures tied to the pan-European Stoxx 50 were 0.1% lower just before 7 a.m. in London (2 a.m. ET), with those tied to the French CAC 40 down 0.2%. German DAX futures were marginally lower, while those tied to London’s FTSE 100 were 0.1% higher.
New York’s major averages all dropped on Thursday, as AI jitters rippled through the market again – hitting real estate, trucking and software stocks particularly hard. The “Magnificent 7” tech stocks each closed in negative territory.
Investors are also digesting another busy week of corporate earnings. In Europe, Friday will be a quieter day on the earnings front, with French aerospace firm Safran and British lender NatWest among those reporting their finances.
Global investors are also awaiting U.S. inflation data, which will be published by the Bureau of Labor Statistics at 8:30 a.m. ET.
Metal markets were subdued on Friday morning, after the Financial Times reported U.S. President Donald Trump had plans to scale back tariffs on steel and aluminum. Aluminum futures in London and the U.S. were 1.2% and 0.6% lower, respectively, while front-month steel futures were down 0.1%.
Elsewhere, international officials are gathering in Munich, Germany, for the Munich Security Conference, which runs through Sunday.
