Airbus tumbles on profit warning
Other aerorelated stocks slide
Tech, industrials lead selloff
STOXX 600 down 0.3

June 25 Reuters European shares declined on Tuesday as Airbus tumbled after a profit warning and dragged down aerospacerelated stocks, while technology shares slumped tracking the overnight selloff on Wall Street.

The continentwide STOXX 600 fell 0.3 by 0819 GMT.

Airbus tumbled nearly 11, and was among the biggest drags on the index, after Europe39;s largest aerospace group cut its industrial and financial targets and took a hefty 900 million euro 965 million charge for its troubled space activities.

Its profit warning and forecast for fewer plane deliveries dragged jetengine manufacturers RollsRoyce and MTU Aero Engines lower.

Indeed, the wider STOXX Europe aerospace and defence index slid 5.1, on track for its biggest oneday drop since November 2021.

The tech subindex, which houses some of Europe39;s biggest chiprelated firms, dropped 1.4, tracking the Nvidialed pullback in U.S. stocks.

Still, some market strategists spotted an opportunity in tech stocks, whose 14 gain so far this year places it among the bestperforming sectors in Europe.

We39;re seeing a pretty healthy broadening of a longerterm equity rally … tech stocks had an amazing run and it39;s nothing but healthy that they39;re taking a bit of a pause giving opportunity to investors to catch their breath and reposition, said Tom Gehlen, senior market strategist at SG Kleinwort…