STOXX 600 Falls 0.49% on Nov 3, 2026 as Tech and Miners Slide

Key takeaways

• The STOXX Europe 600 fell 0.49% to 646.26 at 16:30 UTC on Tuesday, November 3, 2026, according to Yahoo Finance data, after trading between 644.02 and 651.06.
• London's FTSE 100 was the weakest major market, down 1.03% to 10,650.73 at 16:30 UTC, as mining stocks and oil majors fell, Trading Economics reported. Italy's FTSE MIB was the only major index in positive territory, up 0.16%.
• Technology shares fell after Apple guided to a lower-than-expected gross margin, citing rising memory chip costs, Investing.com reported; chipmakers ASML, STMicroelectronics and Infineon fell in morning trade.
• Earnings split the market: Bayer and Philips rose after their quarterly results, while TeamViewer fell as much as 26% after cutting its revenue forecast, ZeroHedge reported.
• January Brent crude futures fell 1.24% to $103.47 a barrel at 16:30 UTC, Yahoo Finance data show, after an early rebound on reports of a US strike on Iran's Qeshm Island faded.
• Bond yields rose: the German 10-year Bund yield gained 0.026 percentage point to 3.317% and the UK 10-year gilt yield 0.059 point to 5.255%, Investing.com data show, ahead of the Bank of England decision on November 5.

Session recap

European shares gave back Monday's gains on Tuesday as a tech selloff that started with Apple's results, weaker metals prices and caution before the US midterm elections outweighed strong earnings from Bayer and Philips. Trading Economics said European stocks closed off their session lows. For the wider picture, see Asian and global market closes and our Europe brief for November 2, when falling oil lifted the region.

Notes: index levels are the last quotes at the end of continuous trading; official values after the closing auctions can differ slightly. Changes are calculated from Monday's closes in the same Yahoo Finance series (STOXX 600 649.44, Euro Stoxx 50 6,176.06, DAX 25,981.09, FTSE 100 10,761.30, CAC 40 8,047.69, FTSE MIB 49,948.00, IBEX 35 18,957.80) and Yahoo's previous closes for EUR/USD (1.1191) and GBP/USD (1.3406). Cross-checks point the same way: Trading Economics put the FTSE 100 at 10,650.68 (−1.03%), and Investing.com showed the FTSE MIB at 50,009.50 (+0.12%). For the Euro Stoxx 50, Investing.com showed 6,151.95 (−0.44%) and Trading Economics 6,137.20 (−0.67%), both measured from a Monday close of 6,178.85. Yield changes compare Investing.com's November 3 readings (3.3165% and 5.2550%) with Monday's (3.2908% and 5.1963%); Trading Economics showed the Bund near 3.32% and the gilt at 5.2614%. Brent is Yahoo Finance's front-month contract (BZ=F), whose previous settlement of $104.77 matches the January contract's Monday settlement reported by CNBC. Tuesday's settlement, at 19:30 UTC, was not available at the time of writing.

What drove it

Apple's margin warning hits European tech

Technology led the morning decline after Apple warned that rising memory chip costs would squeeze its gross margin through the holiday quarter, Investing.com reported. ASML, ASM International and BE Semiconductor fell between 2% and 4%, and STMicroelectronics and Infineon each lost more than 3% in early trade, according to the same report. Oracle's plan to raise $20 billion through bond and share sales added to concerns about how artificial intelligence spending is funded. By the close, the technology sector was down about 0.9%, Trading Economics said, with SAP down 2.02% and ASML down 1.32%. ZeroHedge said Apple guided to a 45–46% gross margin, short of a 47% consensus.

Miners and oil majors weigh on London

Basic resources fell nearly 2%, the worst sector, as gold, silver and copper weakened amid uncertainty over US-Iran diplomacy, Trading Economics reported. That hit the commodity-heavy FTSE 100 hardest: Endeavour fell more than 4%, Antofagasta about 3.5% and Glencore roughly 2.8%, while BP closed down 1.89% and Shell 1.40%, according to Trading Economics. Unilever slipped 0.95% after announcing plans to cut €1 billion in costs by the end of 2029.

Earnings: Bayer and Philips up, TeamViewer down

Bayer rose more than 4.5% after raising its 2026 profit outlook, and Philips gained almost 5% after beating profit estimates, Trading Economics reported. Investing.com said both stocks were up 6% earlier in the session. TeamViewer fell as much as 26% after cutting its full-year revenue forecast and citing delayed large enterprise deals, ZeroHedge reported. Coloplast dropped as much as 7.2% after a fourth-quarter profit miss and lower guidance, the same report said. In Germany, Fresenius Medical Care fell more than 5% after lowering its full-year outlook, Trading Economics reported.

Oil swings after US strike on Qeshm Island

Crude rose early after The Wall Street Journal reported, citing US officials, that the US struck Iran's Qeshm Island in the Strait of Hormuz, CNBC said. Some officials described the strikes as defensive, aimed at stopping Iran from attacking commercial ships. Tim Waterer of KCM Trade told CNBC the report "added a degree of risk premium back into the oil price." The gain did not last. Reuters, in a report published by The Globe and Mail, said Brent was down $1.63 at $103.14 at 10:44 a.m. New York time (15:44 UTC), on track for its lowest close since October 7. A US official said the strikes appeared limited and did not signal a return to major combat, according to the same Reuters report. For why crude matters for inflation and rates, see our explainer on how oil price shocks hit inflation and rates.

Yields rebound, euro and pound steady

Government bond yields recovered from near two-month lows, tracking higher US Treasury yields before the midterm elections, Trading Economics reported. It said hawkish ECB comments after last week's rate hold suggested tightening may have been postponed rather than ruled out. EUR/USD and GBP/USD were little changed.

Political & policy watch

US midterm elections

US voters elect the full House of Representatives, a third of the Senate and 36 governors on Tuesday, with the first polls closing at 6 p.m. Eastern time (23:00 UTC), ZeroHedge reported. Investing.com said investors in Europe stayed cautious ahead of the vote. Results in close races can take days to call.

US-Iran talks

A senior Iranian official told Reuters that Iran and the US were still far from a deal to end the war, while mediator Qatar said both sides remained committed to mediation and were reviewing proposals, according to the Reuters report carried by The Globe and Mail. CNBC reported that Iranian President Masoud Pezeshkian said the government had been granted certain authority for peace talks.

Bank of England

The Bank of England announces its rate decision on Thursday, November 5, and is widely expected to deliver its first hike since 2023, citing inflation pressure linked to the Iran war, Trading Economics reported.

What to watch next

• November 3, 19:30 UTC: ICE settlement of January Brent futures.
• November 3, from 23:00 UTC: first US midterm poll closings, ZeroHedge reported.
• November 5: Bank of England rate decision, according to Trading Economics.
• November 6: US nonfarm payrolls for October, which Investing.com said investors were watching.
• November 17: Nvidia third-quarter results; Russ Mould of AJ Bell said "all eyes are now switching" to them, Investing.com reported.
• Ongoing: European earnings season, with about 20% of STOXX 600 companies due to report this week, according to Investing.com. See our oil weekly brief for crude market context.

Risk checklist for readers

• Election timing. US midterm results arrive overnight European time and may take days in close races, so the next European session can open on partial information.
• Headline-driven oil. Brent rose and then fell on Tuesday on reports of a military strike; unconfirmed or single-source reports can reverse quickly.
• Earnings guidance. TeamViewer and Coloplast show how a forecast cut can move a single stock far more than the index.
• Index composition. The FTSE 100 has heavy mining and energy weights, so it can diverge from continental indexes when metals and oil move.
• Central bank risk. A Bank of England decision on November 5 can move gilts, sterling and UK stocks within minutes.
• Currency translation. Investors outside Europe, including in ASEAN markets, see returns shaped by euro and sterling moves as well as share prices.
• Pre-auction quotes. Levels at 16:30 UTC can differ from official closes; STOXX and the exchanges publish reference values.

This article is for information only and is not investment advice.