European stocks slide as heavyweight tech, healthcare drag

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The pan-European STOXX 600 index (STOXX) fell 0.6% by 0723 GMT. Technology stocks (SX8P), which have surged about 11% this year, were down 1.1%, and healthcare index (SXDP) slipped 0.8%.

Interest rate-sensitive banks (SX7P), which have lagged the broader markets, were up 0.3%.

Fed Chairman Jerome Powell announced a new policy framework on Thursday, which focuses more on boosting economic growth and less on worries that inflation could be running too high.

Norwegian Air (OL:NORR) slumped 8.6% after the budget carrier said it still needs more cash in order to weather the COVID-19 pandemic as it reported a deep loss for the first half of 2020.