LONDON — European stock markets opened the week in negative territory as concerns over artificial intelligence and precious metals volatility troubled global markets.
pan-european Stocks 600 The sector was in mixed territory, down 0.7% immediately after the opening bell. Mining stocks and oil stocks led the decline, falling 3% and 2.3%, respectively.
All major stock exchanges also opened lower. british FTSE german index dachshund down and french CAC40 Both fell by more than 0.5%.
Monday’s plunge in Europe came amid similar developments in global markets.
Asia-Pacific markets fell overnight, with South Korean benchmarks leading the decline, as investors monitored gold and silver prices following Friday’s plunge. Meanwhile, U.S. stock futures fell Sunday night as traders turned their attention to Bitcoin after a weekend decline.
Bitcoin prices on Saturday fell below $80,000 for the first time since April, a sign that investors are hedging more risk following Friday’s plunge in precious metals.
Silver, which has more than doubled in the past 12 months, fell about 30% on Friday. This was the metal’s worst single-day performance since 1980. Gold also fell by about 9%.
Wall Street also took notice. Nvidia This is because doubts about the artificial intelligence boom have emerged. Nvidia’s plan to spend $100 billion on OpenAI has stalled, with chipmaker executives expressing doubts about the deal, The Wall Street Journal reported, citing people familiar with the matter.
Revenue sources in Europe julius baer group Meanwhile, data on retail sales in Germany and new car sales in Spain are expected to be released.
— CNBC’s Fred Imbert contributed to this market report.
