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Tech sell-off spreads to Europe after U.S. antitrust moves

Published 04/06/2019, 08:35
Updated 04/06/2019, 08:40
Tech sell-off spreads to Europe after U.S. antitrust moves
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 4 (Reuters) - European shares fell half a percent on
Tuesday as the first signs of U.S. antitrust action against
Google and other major technology companies drove peers in
Europe lower, following losses on Wall Street and Asian markets
overnight.
Europe's main STOXX 600 .STOXX was down 0.5% by 0722 GMT,
with the technology sector .SX8P losing 2%.
New York's tech-heavy Nasdaq .IXIC entered correction
territory on Monday as Amazon AMZN.O and Alphabet's Google
GOOGL.O were the first to face an antitrust probe from U.S.
regulators, with sources saying Apple and Facebook will also be
drawn in. Auto stocks .SXAP outperformed, climbing about half a
percent on better than expected sales from the U.S. market.
Global stock markets have succumbed to selling pressure in
recent weeks, with the benchmark STOXX 600 posting its worst
monthly performance in over three years in May.
Weak economic numbers worldwide have pointed to slowing
growth and the risk of recession ahead as a trade war between
the United States and China escalates.

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