Stoxx 600, FTSE 100, metals, AI sell-off


FILE PHOTO: Bull and bear symbols for successful and bad trading are seen in front of the Deutsche Boerse in Frankfurt, Germany, February 12, 2019.

Kay Pfaffenbach | Reuters

European stocks opened mixed on Friday after concerns about artificial intelligence triggered another sell-off on Wall Street overnight.

Futures related to the pan-European Stoxx 50 were down 0.1% before 7 a.m. in London (2 a.m. ET), while those related to France’s CAC 40 were down 0.2%. German DAX futures were slightly lower, while futures linked to London’s FTSE 100 index rose 0.1%.

All major New York stock indexes fell on Thursday as worries about artificial intelligence swept the market again, hitting real estate, trucking and software stocks particularly hard. “Magnificent 7” Technology stocks all ended lower.

Investors are also digesting another busy week of corporate earnings reports. In Europe, Friday will be a quieter day for earnings, with French aerospace company Safran and British bank NatWest both reporting on their financials.

Global investors are also awaiting U.S. inflation data due to be released by the U.S. Bureau of Labor Statistics at 8:30 a.m. ET.

Metals markets were down on Friday morning after Financial Times report US President Donald Trump plans to cut tariffs on steel and aluminum. London and U.S. aluminum futures fell 1.2% and 0.6% respectively, while front-month steel futures fell 0.1%.

Elsewhere, international officials gathered in Munich, Germany, for the Munich Security Conference, which runs until Sunday.



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