European stocks erase weekly gains as Stoxx 600 falls 1.3%
European shares joined a global selloff and erased their weekly gain, with losses across every sector amid concerns over the Democratic sweep of Congress and its implications for the artificial intelligence trade. The Stoxx Europe 600 Index was down 1.3% at 8:21 a.m. London time, with basic resources leading declines. The European technology subsector had fallen 4.9% over the week.