• TRM (USD/COP)COP 3,316.70 +0.45% +COP 14.79Colombia's official exchange rate (Financial Superintendence), valid Nov 14 to Nov 17
  • EuroCOP 3,665.63 +0.45% +COP 16.34Reference: TRM crossed with the European Central Bank rate of Nov 13; not the market quote
  • Mexican pesoCOP 178.38 +0.44% +COP 0.79Reference: TRM crossed with the European Central Bank rate of Nov 13; not the market quote

Wall Street correction reopens investor interest in European stocks

FinanceInternationalCinco DíasAI summary
Image: Cinco Días

The correction in big tech and doubts about AI profitability have led large investors to look at Europe again. Since the Nasdaq's peak on October 6, the tech index is down 8.3% and the S&P 500 3%, while the Stoxx 600 is up 4%. Citi cut US equities to neutral and raised European equities to overweight, excluding the UK. Fund managers cited highlight Europe's sector diversification, the weight of banks and resilient earnings.

In 40 seconds

  • Since the Nasdaq's October 6 peak, the tech index is down 8.3%, the S&P 500 3% and the Stoxx 600 up 4%
  • Citi cut its US equity recommendation to neutral and raised European equities to overweight, excluding the UK
  • Siemens Energy and Infineon are up more than 10% since October 6 and UniCredit has gained 9.4%
Read the full story at Cinco Días

IASummary generated by artificial intelligence from a story by Cinco Días. It may contain errors: the original source prevails.

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