European Markets Waver Amid Tech and Retail Setbacks

European shares retreated from record highs, impacted by a drop in technology stocks and Puma's nosedive following its earnings report. The STOXX 600 decreased as Puma delayed margins and Swedbank exceeded earnings expectations, while declines in tech stocks were affected by Trump's protectionist threats.

European shares receded from their peak levels on Thursday as a downturn in technology stocks and a nosedive by sportswear retailer Puma pulled indices lower.

The STOXX 600 index fell 0.1%, retracting from an all-time high recorded a day earlier. Puma plummeted 16.1% as the company struggled with disappointing annual profits, prompting a delay in its margin targets and a decision to cut costs.

Tech stocks also tumbled, led by a 4% drop in ASML, amid concerns over potential U.S. tariffs on the EU. Meanwhile, Swedbank boosted the banks index with a better-than-expected dividend proposal, while Norway maintained its interest rate at a 17-year high.

(With inputs from agencies.)