(Reuters) -European shares were steady on Wednesday, pausing after tech valuation concerns sparked sharp declines in the previous session, while investors braced for a high-stakes earnings report from AI poster-child Nvidia.
The pan-European STOXX 600 was flat at 562.01 points by 0810 GMT.
The index fell 1.7% on Tuesday, its biggest one-day drop in more than three months, on worries that the global tech rally seen for much of the year had emerged into a potential bubble.
European tech stocks slipped 0.4% on Wednesday, ahead of Nvidia’s report, scheduled later in the day, that could either stoke or soothe investor worries about lofty valuations.
AI equipment makers Schneider Electric was marginally lower while Siemens Energy rose 1.3% after Tuesday’s losses.
Germany’s Fraport fell 3%, extending Tuesday’s losses, after UBS downgraded the stock to “sell”.
In the UK, inflation fell to 3.6% in October from 3.8% in September, its first drop since May and in line with forecasts, cementing expectations that the Bank of England could cut interest rates in December.
(Reporting by Anastasiia Kozlova; Editing by Eileen Soreng)
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