European shares subdued as AI caution hits tech and oil surges

  • European technology stocks fell after Anthropic CEO Dario Amodei urged slower AI development.
  • Technology shares dropped 1.4%, while Infineon fell 5.8% and ASML declined 4.4%.
  • Oil prices rose more than 2% after attacks and a Saudi pipeline closure heightened supply concerns.

European shares were subdued on Sept. 14 as technology stocks weakened after Anthropic CEO Dario Amodei called for a slower pace of AI model development because of misuse concerns. The pan-European STOXX 600 was little changed at 638.95 points in choppy trading at 0810 GMT, while most major regional markets declined. Technology stocks fell 1.4%, with Germany's Infineon dropping 5.8% and Dutch chip-equipment companies ASML and ASMI losing 4.4% and 5%, respectively. Oil prices rose more than 2% after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf added to supply concerns following the closure of a key Saudi oil pipeline. Most STOXX sectors fell, although Europe's energy sector gained 0.4%. Investors were turning their attention to the Federal Reserve's policy decision this week, with traders increasingly wagering on a 25-basis-point rate hike. The European Central Bank lifted interest rates last week.

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