European shares held steady on Wednesday, pausing after sharp declines in the previous session driven by fears over stretched tech valuations. Investors also turned their attention to a highly anticipated earnings report from Nvidia, the leading name in the AI sector.
The pan-European STOXX 600 was unchanged at 562.01 points as of 0810 GMT.
The index dropped 1.7% on Tuesday — its largest single-day fall in more than three months — amid growing concerns that this year’s global tech rally may have developed into a potential bubble.
European tech stocks slipped 0.4% on Wednesday ahead of Nvidia’s results, which are due later in the day. The report could either heighten concerns about high valuations or help ease investor anxiety.
Among major names, Schneider Electric ticked slightly lower, while Siemens Energy rose 1.3% after Tuesday’s losses.
In Germany, Fraport declined 3%, extending its previous session’s drop after UBS downgraded the stock to sell.
In the United Kingdom, inflation eased to 3.6% in October from 3.8% in September — its first decline since May and in line with expectations. The softer reading strengthened bets that the Bank of England could cut interest rates in December.
