Key facts
- AI-related stocks were hit by fears of increasing borrowing costs and further Federal Reserve rate hikes.
- Chip stocks Infineon, Soitec, and Aixtron dropped between 6.3% and 7.5%.
- Chip equipment maker ASML dropped 4.8%.
- Electrical equipment makers Legrand and Schneider Electric declined 3.4% and 3.8% respectively.
- Traders see an 84% chance of a European Central Bank rate hike in December.
European shares edged lower on Thursday, October 15, 2026, as a global rout in AI-related stocks, driven by fears of increasing borrowing costs and further Federal Reserve rate hikes, weighed on sentiment. The pan-European STOXX 600 index fell 0.16% to 636.73 points by 0901 GMT. Tech stocks were particularly hard hit, with the sector dropping 2.7% and heading for its steepest one-day decline since July. Chip stocks like Infineon, Soitec, and Aixtron saw significant drops, as did chip equipment maker ASML. Electrical equipment makers Legrand and Schneider Electric also declined. However, positive corporate news provided some support. Ericsson advanced 8.3% after its third-quarter results beat analyst expectations, boosting the telecom sector. Pernod Ricard added 1% following its first-quarter sales report. Conversely, Mondi tumbled 10.8% after announcing price increases, and miner Antofagasta slid 6.2% due to lower copper production. Brent crude prices also fell more than 2%. Traders anticipate an 84% chance of a European Central Bank rate hike in December.