European Markets Stumble Amid Tech and Mining Downturn

Europe's main stock index fell 1% due to disappointing corporate earnings and key economic data. Technology and mining stocks led the decline. The STOXX 600 marked its worst monthly performance in a year. Several companies, including Capgemini and UBS, experienced significant stock drops amid uncertain economic conditions.

Europe's main stock index experienced a 1% decline, its lowest in over a month, influenced by plummeting technology and mining stock values in the wake of dismal corporate earnings and pivotal economic data revelations.

The STOXX 600, a pan-European index, concluded the day 1.3% down, reaching lows unseen since mid-September. Key regional indices from Germany, France, Spain, and Italy also felt the crunch, witnessing drops between 0.7% and 1.2%.

The technology sector endured a 2% drop, partly due to bleak forecasts from Belgian and U.S. chip firms. Shares of Capgemini decreased by 6% post their second revenue forecast cut of the year. Basic resources ended a three-day surge, with Anglo American dropping 4% after corporate acquisition news, and UBS shares declined 4.5% over regulatory concerns.

(With inputs from agencies.)