STOXX 600 drops for fifth day, Nvidia drags European chip stocks

-Automobile stocks led losses in Europe on Thursday, with geopolitical tensions weighing on overall market sentiment and keeping some safe-haven bids afloat, while chip stocks took a hit after sector bellwether Nvidia story has developed sufficiently for there to be a marked risk-off ... But it's just going to keep investors cautious whilst we wait for any further developments," said Fiona Cincotta from Citi index.

While an ECB policymaker said tariff hikes under Trump do not shift Europe's inflation outlook, a Federal Reserve official noted it is too early to start assessing the election impact on monetary policy. "There is still optimism surrounding the sector ... It's not that we've seen anything really disastrous," Cincotta added.) slid 15% after the sportswear retailer warned that its annual profit would come in at the low end of its guided range.

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