The European stock market declined slightly on the last trading day of October, but as artificial intelligence trading showed fatigue and promoted capital rotation, the European stock market recently performed better than the US stock market. The Stoxx Europe 600 Index closed down 0.4%, and this month's gains narrowed to around 2%. Technology stocks and mining stocks lacked performance, with healthcare and food and beverage stocks leading the way. When global stock markets were sold off on Friday, European stock markets once again resisted falling relatively. The disappointing performance of Amazon and Intel once again raised market concerns about huge AI spending, and the Nasdaq 100 index plummeted. Asian stock markets also declined. Among them, South Korea's KOSPI index, which is seen as a weather vane for AI trading sentiment, fell 3.5%, and investors reassessed the outlook for technology stocks. UBS's basket of European AI beneficiary stocks fell 4.9%. The Stoxx Europe 600 Index will outperform the S&P 500 in October, which is being dragged down by the higher weight of technology stocks. Throughout October, investors turned to more defensive segments of the European market, while strong transactions such as banks and basic resources earlier this year fell behind.

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