Lucy Harley-McKeown
Europe mixed and US stocks slip as bumper rally takes breather
The FTSE 100 was down and European indices were mixed as markets closed in Europe. Meanwhile US stocks dipped following a record-setting week for Wall Street.
The FTSE 100 (^FTSE) was 0.6% lower by the closing bell. Germany's DAX (^GDAXI) was 0.1% lower and the CAC (^FCHI) in Paris rose 0.2%. The pan-European STOXX 600 (^STOXX) fell 0.1%.
US stocks were lower, with the S&P 500 (^GSPC) and the Nasdaq (^IXIC) down 0.1% and 0.2% respectively and the Dow (^DJI) shedding around 106 points to trade 0.3% lower.
US stocks have racked up gains in recent weeks amid a relentless AI-spurred run-up in techs, which helped the Nasdaq Composite to finally nail a fresh all-time high after a years-long wait.
That tech rally, and Nvidia's (NVDA) breakneck rise to a $2tn valuation in particular, has prompted concerns about a building bubble — though some analysts are less worried.
Meanwhile, the moves in Europe come ahead of the spring budget, due to be announced on Wednesday.
Reports over the past week havre suggested policies could include the introduction of a 99% mortgage by chancellor Jeremy Hunt, in a bid to spur on the housing market and get more people into ownership.
There is also a rumoured additional cut to national insurance payments on the slate, according to a report in the Financial Times.
This could be the last budget before the next UK general election, with curbing inflation, public debt and cost of living hot on the agenda.
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