(MENAFN) European equity markets ended the week lower as investors expressed growing unease over what they perceive as inflated valuations in the US artificial intelligence (AI) and technology sectors.

The Stoxx Europe 600 index fell 0.55%, or 3.11 points, closing at 564.79, while its technology segment dropped sharply by 2.07%. Conversely, the automobiles and spare parts index rose 0.76%, though banks declined 0.82% on Friday.

Germany’s DAX 40 slipped 0.69% to 23,569.96 points, the UK’s FTSE 100 lost 0.55% to finish at 9,682.57, France’s CAC 40 fell 0.18% to 7,950.18, and Italy’s FTSE MIB 30 declined 0.35% to 42,917.67.

Persistent concerns over inflated US tech company valuations have kept investor risk appetite muted across European markets. Sharp drops in major US tech stocks have intensified worries about overvaluation and the possibility of a steep market correction.

The euro traded at 1.1572 against the US dollar as of 1820 GMT, gaining 0.22% during the session.

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