European stocks close lower as banks and industrials slide
Euro STOXX 50 closed down 0.75% at 6,422 and STOXX Europe 600 fell 0.7% to 651.7. Banks and industrials weighed, with UniCredit and BNP Paribas both sharply lower.
European stocks closed sharply lower on Thursday amid sharp pressure from banks and industrial giants.
The Euro STOXX 50 fell 0.75% to 6,422 and the STOXX Europe 600 fell 0.7% to 651.7.
Banks sank sharply, paring gains from the week as concerns of more restrictive financial conditions retook the market's forefront, with ECB accounts showing that selected policymakers did not oppose a hike in the central bank's June meeting.
UniCredit sank 3.2% and BNP Paribas fell nearly 5%, while Santander, ING, and BBVA dropped over 2%.
Meanwhile, Safran and Airbus dropped over 1% each.
On top of that, AI infrastructure stocks closed in the red despite the strong earnings results and projections from Nvidia, which prompted gains state-side.
ASML and Siemens Energy both fell close to 1%.