European Markets Decline Amid Tech Sell-Off, Weak PMI Data

European markets declined on June 23, 2026, driven by a tech sector sell-off and weaker-than-expected Eurozone Purchasing Managers' Index (PMI) data. The pan-European STOXX 600 index fell 0.7%, with Germany's DAX, France's CAC 40, and Britain's FTSE 100 also posting losses. The Eurozone's composite PMI dropped to 48.8 in June, down from 50.3 in May and below the forecast of 50.0, signaling a contraction in business activity. Germany's equivalent index also fell, contributing to broader economic concerns. Technology stocks led the declines, with the STOXX Europe 600 Technology index down 1.6%. Shares of major tech firms like ASML (ASML), SAP (SAP), and Infineon (IFX) fell between 1.5% and 2.5%. French political uncertainty also contributed to investor caution.