European Shares Opened Lower on Weak Technology Sector

European stocks opened lower, as turmoil continued, fueled by technology stocks from the previous session, while banking stocks were supported by merger talks between two major banks in Spain.

The pan-European STOXX 600 index fell 0.9% in early trade after having seen its worst session in more than a month on Thursday. The index is set to lose 0.8% for the week.

Technology stocks led the early losses after recording their worst performance in more than four months on Thursday.

The losses of US technology stocks extended to the rest of the sectors and markets, while Asia also witnessed a weak morning session.

Investors are now looking forward to the US jobs data expected to be released later today to gauge the pace of the country’s economic recovery.

Shares of Bankia and Caixa Bank in Spain rose after they said they were considering a merger that would create the country’s largest bank.