Tech Sector Leads European Stocks Higher Amid Oil Price Surge
European stock markets are rising, led by the tech sector. The FTSE MIB in Milan is up sharply, as are the CAC 40 in Paris and the DAX 30 in Frankfurt. Tech stocks continue to drive gains, with Nvidia's record share buyback and Anthropic's huge investments buoying optimism.
The surge in energy prices is driving inflation fears, triggering sell-offs in government bonds and rising yields. US Treasury yields have stabilized after reaching their highest level in twenty years, at 5.27% since 2007. The standoff between the US and Iran over the Strait of Hormuz continues to fuel oil price rises.
The White House is hosting a summit on AI with industry leaders today, including Mark Zuckerberg, Sundar Pichai, and Elon Musk. They will discuss AI regulation and its impact on the economy.