European stock markets ended the last trading session of February in moderately positive spirits, showing resilience to a sharp sell-off of tech stocks on Wall Street. While the US Nasdaq index lost value, dragged down by a more than five percent drop in Nvidia's share price, indices in Milan, Madrid, and London hit all-time highs. Investors on the Old Continent focused on positive inflation data and the publication of financial results from domestic giants.
Resilience of European Stock Markets
Indices on the Old Continent rose despite a sharp sell-off of technology company stocks in the United States.
Nvidia and AI Sector Correction
Shares of the American giant Nvidia fell by 5.47%, raising concerns about overheating in the artificial intelligence investment market.
Records in Madrid and Milan
The Ibex 35 index reached a historical high around 18,500 points, and the Italian FTSE MIB gained thanks to the automotive sector.
Recovery Attempt on the WSE
The Warsaw WIG20 index recorded gains at the opening, trying to recover losses after a recent series of sell-offs.
The last trading session in February 2026 brought a clear divergence between the American and European markets. On Wall Street, we observed a significant deterioration in sentiment, triggered by a sharp sell-off in the semiconductor sector. The key event was a 5.47% drop in Nvidia's stock price, which revived discussions about a potential speculative bubble in the artificial intelligence sector. This sell-off translated into declines for the Nasdaq index, but European trading floors did not succumb to this pressure. Instead, investors in Europe reacted to local fundamentals and favorable macroeconomic data concerning consumer price dynamics. In Milan, the FTSE MIB index continued its upward march, supported by the banking and automotive sectors. Although Stellantis's financial results for the previous year indicated a net loss, investors appreciated dividend announcements and optimistic operational forecasts, which drove the company's share price higher. A similar mechanism worked for Eni, where despite an annual profit decline, the market positively received its capital management strategy. Meanwhile, the Spanish Ibex 35 set new all-time records, approaching the 18,500-point level, making February one of the best months for the Madrid stock exchange in recent years. Historically, European markets are characterized by a larger share of companies from the traditional economy than stock exchanges in the US. This means that during periods of cyclical capital rotation from the technology sector to industry and finance, the Old Continent often performs better than the US market dominated by Big Tech.On the Warsaw Stock Exchange, Friday morning brought an attempt to recover from earlier declines. The WIG20 index rose after a series of severe sell-offs, trying to keep pace with rising emerging markets. However, investors remain cautious, observing the destabilizing impact of volatility on futures in New York. The situation in Asia also remained optimistic – Japan's Nikkei once again pushed the boundaries of its historical peaks, and Chinese stock markets gained on the back of announcements of government investments in digital infrastructure. „European shares continued their positive momentum in February, buoyed by strong corporate earnings.” — Reuters Analyst In summary, the end of the month brought an interesting divergence: while the enthusiasm around artificial intelligence in the US caught its breath, Europe is reaping the benefits of economic stabilization and good results from the banking and commodity sectors. The coming days will show whether the American correction is merely a local pause in the bull market, or whether it heralds a deeper revaluation of global technology portfolios.