European shares set to fall as global AI rout gathers pace

European stocks were set to open lower Friday as a global selloff accelerated, capping a bruising week for investors wrestling with uncertainty around AI shares. Futures linked to the EURO STOXX 50 fell 1% at 6:52 GMT, with Germany- and UK-tracking contracts down 0.8% and 0.9%. Concerns grew that a Democrat-controlled US Congress could curb AI data-center spending, compounding worries over weak returns, stretched valuations and investment driven by debt. The tech-heavy Nasdaq lost $2.5 trillion in market value in the prior session, with losses spreading across Asia. The STOXX 600 was comparatively steadier, supported by healthcare, banks and stronger-than-expected earnings, while major AI names like ASML and Infineon faced pressure.