European Stocks Fall as Bank, Auto, and AI Shares Drop

European stock markets declined broadly, dragged down by losses across the banking, automotive, and artificial intelligence sectors. Shares in Volkswagen, the German automotive giant, fell sharply following reports that the company may cut up to 100,000 jobs. The potential workforce reduction, if confirmed, would represent one of the largest layoffs in the automaker's history and reflects deepening pressure on the European car industry, which has been struggling with slowing demand, rising production costs, and the costly transition to electric vehicles.