European stocks fell sharply on Friday led by technology, which echoed a late-session selloff on Wall Street. Profit warnings in the renewables sector sent the shares of two Siemens subsidiaries tumbling.
U.S. stock indexes surrendered an early rebound to turn lower in Thursday’s final hour of trading, a repeat of Wednesday’s volatile session. The worst losses were seen for the Nasdaq Composite COMP, -1.30%, which fell 1.3%, pushing further into correction territory. A bumpy start to earnings season has also added to the gloom, with Netflix NFLX, -1.48% shares dropping 20% late Thursday, after the streaming giant’s subscriber number outlook fell far short of expectations. S&P 500 futures ES00, -0.12% were pointing lower, while Nasdaq-100 futures NQ00, -0.41% fell 0.6%.
Energy names were under pressure as a risk-off mood hit oil prices CL00, -1.78% BRN00, -1.69%, and BP BP, -1.39% BP, -2.31% and Royal Dutch Shell RDS.A, -2.58% RDSA, -0.97% shares fell 1% each.
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