European stocks slide as heavyweight tech, healthcare drag

  • Reuters
  • Stock Market News
European stocks slide as heavyweight tech, healthcare drag
Credit: © Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Aug 28 (Reuters) - European stocks slipped on Friday as investors dumped recent winners including technology and healthcare stocks and bid up banking shares after the U.S. Federal Reserve unveiled its new policy framework.

The pan-European STOXX 600 index .STOXX fell 0.6% by 0723 GMT. Technology stocks .SX8P , which have surged about 11% this year, were down 1.1%, and healthcare index .SXDP slipped 0.8%.

Interest rate-sensitive banks .SX7P , which have lagged the broader markets, were up 0.3%.

Fed Chairman Jerome Powell announced a new policy framework on Thursday, which focuses more on boosting economic growth and less on worries that inflation could be running too high. Air NORR.OL slumped 8.6% after the budget carrier said it still needs more cash in order to weather the COVID-19 pandemic as it reported a deep loss for the first half of 2020.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search