European stocks close lower as euro extends declines; tech firms nudge higher

LONDON — European stocks fell on Wednesday, extending negative sentiment seen in the previous trading session.

The pan-European Stoxx 600 index provisionally closed 0.5% lower, after it rose earlier in the day.

Auto and travel and leisure stocks fell 1.23% and 1.76% respectively, while tech was the lone sector in the green, inching 0.36% higher. That pattern was reflected on Wall Street, where the tech-heavy Nasdaq Composite posted slight gains in defiance of a wider market decline, as chipmaker Nvidia remains in focus.

The euro suffered a second day of losses against the U.S. dollar, falling 0.3%, as investors eye political risk and gear up for fresh U.S. inflation data out Friday.

Shares of Volkswagen dipped 1.64% after the German automaker announced a $5 billion investment in U.S.-listed electrical vehicle startup Rivian, which jumped nearly 30%.

On the data front, figures released by market research company GfK and the Nuremberg Institute for Market Decisions on Wednesday showed that German consumer sentiment is expected to dip in July after four straight months of improving.

Elsewhere, data from France’s national statistics office showed that consumer confidence fell slightly to 89 in June.

Asia-Pacific markets were mixed Wednesday as Australia’s inflation rate climbed for a third straight month, while semiconductor and related stocks jumped.