LIVE MARKETS-Half-time in Europe: STOXX extends declines, tech steady

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

HALF-TIME IN EUROPE: STOXX EXTENDS DECLINES, TECH STEADY

About half-way through Europe's trading day, the STOXX 600 index .STOXX has extended declines and is now down 1.7%. That also puts it on track to end the week about 0.5% lower.

But notably, in a sign the selling has broadened out beyond tech stocks, European tech stocks are actually one of just two sectors that are up on the day.

They're only up by about 0.1%, but still, and European chip stocks are some of the biggest gainers in the STOXX 600, with Aixtron AIXGn.DE up 5%, and ASML ASML.AS and Soitec SOIT.PA not far behind.

Nasdaq futures are also up, around 1.4%.

Of course there's still a lot of uncertainty about what comes next though - tech nerves might spread into other areas of the stock market as we're seeing in Europe, and the AI slump could return, or perhaps it was just a short-term reaction.

There's also a possible catalyst coming up soon in form of the October US payrolls report. It wouldn't be unusual for markets to react quite strongly to that, especially when investors are already on edge.

A Reuters survey of economists predicted that nonfarm payrolls likely increased by 65,000 jobs last month, after being restricted to a 29,000 gain in September because of a calendar quirk related to a late Labour Day holiday. But, an anticipated slowdown in annual wage growth to below 3.0% for the first time in nearly 5-1/2 years would reinforce the view that the labour market is not a source of inflation.

(Sophie Kiderlin)

EARLIER ON LIVE MARKETS:

GERMANY'S FISCAL BOOST IS TAKING HOLD CLICK HERE

STOXX SUFFERS, BUT STAYS STEADY ACROSS THE WEEK CLICK HERE

BEFORE THE BELL: TECH WORRIES CRASH ASHORE IN EUROPE? CLICK HERE

AI'S REALITY CHECK CLICK HERE