European Stocks Drop as Tech, Oil-Led Inflation Fears Weigh

European stocks closed lower on Tuesday as strong gains in energy shares were tempered by inflation fears and a selloff in the tech sector.

The Stoxx 600 was down 0.4% in London by the close and tested its 50-day moving average, a key technical support level. Tech shares came under pressure after a Wall Street Journal report said OpenAI failed to meet targets for new users and revenue.