European equity markets were set to open lower on Friday as a global selloff in semiconductor stocks gathered pace, driven by mounting concerns over heavy AI-related spending and stretched valuations.
Investors also continued to assess the impact of the escalating conflict between the US and Iran, which pushed oil prices higher and kept inflationary pressures and interest rate concerns firmly in focus.
In Europe, attention will turn to final Eurozone inflation data for June, along with current account figures for both the euro area and Italy.
On the corporate front, investors will monitor earnings reports from Novartis, Burberry Group, Volvo, Swedbank, and Danske Bank, among others.
In premarket trading, Euro Stoxx 50 futures were down 0.9%, while Stoxx 600 futures declined 0.7%.