Global Market: European shares subdued as tech stocks slide, oil prices surge

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The pan-European STOXX 600 was little changed at 638.95 points in choppy trading as of 0810 GMT, with most major regional bourses trading lower.
Read more: Global Market: Japan stocks fall as AI concerns hit tech shares; Nikkei down 1.6%
Technology stocks dropped 1.4%, tracking weakness in Asian peers. The sector came under pressure after Anthropic CEO Dario Amodei called for artificial intelligence companies to slow the pace of advances in model capabilities amid concerns over potential misuse, Reuters reported.
Germany's Infineon fell 5.8%, while Dutch chip-equipment makers ASML and ASMI declined 4.4% and 5%, respectively.
Read more: Global Market: South Korean shares fall as AI concerns weigh; won strengthens
Most STOXX sectors traded lower as oil prices surged more than 2%, adding to concerns over energy supplies. New Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply worries following the closure of a key Saudi oil pipeline, Reuters reported.
The European energy sector bucked the broader weakness, gaining 0.4% as higher crude prices supported oil and gas stocks.
Investors were also focused on the U.S. Federal Reserve's monetary policy decision due later this week, with traders increasingly pricing in a 25-basis-point interest rate hike.
The European Central Bank raised interest rates last week, adding to the focus on how major central banks will respond to persistent inflation pressures and heightened geopolitical risks.
With oil prices rising sharply and financial markets facing increased uncertainty from the conflict in the Middle East, investors are assessing the potential impact on inflation, economic growth and the outlook for global monetary policy.
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