European Markets Tumble Amid Global Uncertainty

European shares hit their lowest in over two weeks due to mixed earnings and a lack of U.S. data. The STOXX 600 index dropped by 1.2% as investors reeled from multiple risks. Meanwhile, third-quarter corporate earnings were in full swing with divergent performance among key companies.

European shares plunged on Tuesday, reaching their lowest levels in over two weeks, amidst a pervasive risk-off atmosphere across global markets. Investors are currently navigating a variety of mixed earnings reports and the absence of key U.S. data stemming from an ongoing government shutdown.

The pan-European STOXX 600 index saw a 1.2% decrease, resting at 565.73 points by 0813 GMT, with all major bourses in the red. European stocks had previously enjoyed a four-month streak of gains but started this month on a cautious note as several looming risks became apparent.

Contributing to the uncertainty, apprehension grows over the deals between major artificial intelligence players, while domestic corporate third-quarter earnings are in full motion. Among individual stocks, Edenred plummeted 8.5% after forecasting slower profit growth by 2026, whereas Geberit's shares rose 2.2% following an improved sales outlook.

(With inputs from agencies.)