(Bloomberg) — European stocks retreated, tracking tech-led declines on Wall Street and dragged lower by a slump in the shares of Airbus SE.
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The Stoxx 600 Index fell 0.3% as technology firms and industrials weighed on the benchmark gauge. Airbus tumbled almost 10% after lowering its guidance amid persistent supply-chain issues. Suppliers to the planemaker also fell. Contracts on US stocks were little changed after Nvidia Corp. extended a three-day rout on Monday, though various US non-tech sectors advanced.
With the quarter drawing to a close, investors are snatching up value stocks and rotating out of the technology sector into other parts of the market. In Europe, investors will be keeping a keen eye on France’s main political parties as they hold a debate Tuesday evening ahead of the first round of legislative elections on Sunday.
“As we approach the quarter-end, global investors are rebalancing their…
