Investors are awaiting a major meeting between US President Joe Biden and Republican House Speaker Kevin McCarthy on Monday to discuss raising the debt ceiling.
Negotiations between the two sides came to an abrupt halt on Friday as Republicans walked out of the meeting, and although talks eventually resumed, neither side reported progress.
Markets are also pricing in expectations of US and European monetary policies on interest rates and their impact on sentiment.
Market movements
The European Stoxx 600 index stabilized after hitting its highest level in more than a year on Friday.
The banking and mining sectors were among the biggest losers, while healthcare stocks rose.
Germany’s DAX index fell 0.1%, after hitting a record high in the previous session.
Shares of European chipmakers have come under pressure after China’s cyberspace regulator said products from US memory chipmaker Micron Technology failed a network security review and would block major infrastructure operators to buy from the company.
Shares of “Infineon Technologies”, “ST Microelectronics” and “ASM International” fell.
Shares of ‘Novo Nordisk’ rose 2.3% after research showed that taking its new obesity drug could help reduce the risk of heart disease in addition to boosting weight loss.
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