29.07.202609:55:34UTC+00European Stocks Slip as Tech Weighs Ahead of Fed Decision

European equities closed lower in a volatile Wednesday session, pressured by technology shares ahead of the US Federal Reserve’s policy decision later in the day, a wave of upcoming earnings from major US tech firms, and persistent tensions in the Middle East. The STOXX 50 declined 0.5%, while the broader STOXX 600 slipped 0.3%.

Technology stocks led the pullback, with ASM International falling more than 5% despite issuing an upbeat outlook. Sentiment was further undermined after SK Hynix’s record quarterly results fell short of elevated market expectations, fueling concerns about the sustainability of AI-related spending.

By contrast, energy stocks outperformed as oil prices rebounded on renewed geopolitical tensions in the Middle East.

In company-specific moves, Kering jumped 12% after Gucci’s sales exceeded forecasts, and Sopra Steria rallied 13% following an upgrade to its guidance. Glencore gained 3% on stronger copper output, while UBS and Deutsche Bank advanced on the back of solid earnings reports. Aberdeen slid 5% after disclosing first-half fund outflows that were larger than anticipated.