European stocks closed lower on Friday, affected by fears of a speculative bubble in AI and the weakness of the global economy.

On Friday, European stocks recorded a significant decline, with the pan-European Stoxx 600 losing over 1%. All major exchanges in the region experienced declines, with the technology index Stoxx Technology dropping by 1.4%, influenced by massive sell-offs on Wall Street. Companies like Infineon, SAP, and BE Semiconductor had weak performances, with SAP announcing concessions to resolve a EU antitrust investigation. Additionally, Novo Nordisk shares fell by 2.4% after a management reorganization.

Investors are concerned about the weakness of the global economy, especially in China, where declines in fixed investments and a slowdown in retail sales have been observed. Comments from Federal Reserve officials have led to a reassessment of expectations regarding interest rate cuts. In the UK, government bond yields rose, while the pound sterling fell.

The earnings season has brought mixed results, with Allianz reporting a record profit, while Richemont shares rose by 5.9% due to increasing demand in the luxury sector.