LONDON — European stocks opened lower Tuesday, following souring U.S. market sentiment at the start of the week.
The Stoxx 600 index was down 0.32% in opening trade, with sectors and major bourses diverging. Tech stocks sank 1.53% while oil and gas rose 0.99%.
Global markets have turned lower after investors stateside sold off U.S. Big Tech stocks on Monday in favor of sectors such as banking and energy.
Tech darling Nvidia dropped 6.7% on Monday and was one of the biggest contributors to the Nasdaq’s losses. Information technology was the S&P 500′s worst-performing sector, down more than 2%.
Asia-Pacific markets mostly rose overnight, with traders assessing South Korea’s consumer sentiment index for June, as well as Japan’s service sector producer prices.
In Europe Tuesday, there are no major earnings. Spanish gross domestic product data will be the main major economic release.