European stock markets closed negatively, with technology stocks leading the losses.

European Markets Closed with a Decline

With the end of today's trading, European markets generally displayed a negative outlook. The Stoxx Europe 600 benchmark index closed at 564.79 points, down 0.55 percent.

Decline Led by Technology Stocks

Technology sector stocks in Europe stood out with an average decline of 2.07 percent. This has caused investors to adopt a cautious stance amid concerns over the rising high valuations of U.S. tech giants. Especially sharp drops in the stock values of large technology companies are unsettling investors and increasing worries over excessive valuation in the markets.

Mixed Performances in Other Sectors

The automotive and parts index drew attention with a 0.58 percent increase, while bank stocks lost an average of 0.85 percent in value. Shares of oil and gas companies also contributed to the decline, experiencing a 0.07 percent drop.

Country-Specific Stock Market Performances

In France, the CAC 40 index fell 0.18 percent to 7,950.18 points. Italy's FTSE MIB 30 index decreased by 0.35 percent to 42,912 points, while Germany's DAX 30 index also fell 0.69 percent to 23,569.96 points. In the United Kingdom, the FTSE 100 index closed down 0.55 percent at 9,682.57.

Euro/Dollar Exchange Rate Increased

The euro/dollar exchange rate showed an increase of 0.23 percent, trading at 1.157 as of 20:33 TSİ. This market volatility is increasing uncertainties regarding the future of the European economy.