European Stocks Decline Amid Technology Selloff and Retail Weakness

European stock markets experienced a notable downturn on January 8, 2026, as the STOXX 600 index fell 0.2% to 603.83, marking its second consecutive day of losses. This decline interrupts the strong rally that had characterized the start of the year. The downturn was primarily driven by a sharp selloff in the technology sector, which fell 2.2%, alongside disappointing earnings updates from major UK retailers and a dip in commodity prices, including gold GCUSDand copper HGCUSD.