European stocks set for mixed open after global tech sell-off
A sell-off in tech stocks gripped U.S. and Asian markets overnight after an earnings report from Broadcom earlier in the week.
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Signage at the Broadcom Inc. headquarters in San Jose, California, June 2, 2025.
David Paul Morris | Bloomberg | Getty Images
European stocks are set for a mixed open on Friday as investors monitor a global sell-off in chipmaking tech names.
London's FTSE 100 looks set to open 0.1% higher, according to IG futures data, while France's Cac 40 is slated to open 0.3% higher and Germany's Dax is seen opening 0.2% lower.
A sell-off in tech stocks gripped U.S. and Asian markets overnight, after a downbeat earnings report from Broadcom sparked a rotation out of artificial intelligence-linked names into more defensive sectors.
The weakness was particularly pronounced in South Korea's chip-heavy market. The Kospi was last down 4.3%, with heavyweights Samsung Electronics and SK Hynix dropping 4.3% and 7.6%, respectively.
In the U.S., the Dow Jones Industrial Average rallied to a fresh all-time high on Thursday, while the tech-heavy Nasdaq Composite underperformed.
The 30-stock Dow jumped 874.86 points, or 1.73%, for a record close of 51,561.93. The Nasdaq lost 0.09% and ended at 26,830.96, while the S&P 500 rose 0.41% to 7,584.31.
In Europe, Nokia shares finished more than 6% lower as part of the unwind in tech stocks, following several consecutive days of outsized gains for the sector.
On Thursday, President Donald Trump said that he would be "honored" to meet Ayatollah Mojtaba Khamenei, Iran's Supreme Leader, "if it was to make a deal." The U.S.-Iran war has dragged on into its fourth month as the conflict remains locked in a fragile ceasefire.
