AEX at 1,124 points as AI and election nerves weigh on Europe
Published on 11/03/2026 at 13:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAEX under pressure at midday
- The AEX stood at 1,124.00 points, down 0.75 percent in the latest live reading.
- The decline followed renewed concerns about artificial-intelligence spending, weakness in technology shares and uncertainty surrounding the US midterm elections.
- Risk sentiment was also affected by renewed tensions involving Iran and volatile oil prices.
The AEX was trading at 1,124.00 points in the latest live reading for Tuesday, November 3, down 0.75 percent from the previous session. The index had closed at 1,132.54 points on November 2, according to the Euronext AEX-Index page. The Amsterdam market was still in its regular trading session, so the reading does not represent a closing level.
Technology shares remain a drag
Investor caution was concentrated in technology and semiconductor shares as markets reassessed the sustainability of the artificial-intelligence investment cycle. A Reuters report published on Euronext said the pan-European STOXX 600 was lower and that the technology sector fell 1.6 percent, with ASML down more than 1.1 percent. The report linked the pressure to concerns that the global AI trade had become overvalued after disappointing results from major US technology companies.
That international technology weakness was an important backdrop for the Dutch benchmark, which has significant exposure to semiconductor equipment makers. However, the index move should be read as a market snapshot rather than as evidence that any individual constituent caused the full decline.
Geopolitics adds to risk aversion
Geopolitical developments also weighed on sentiment. Reuters reported that the United States had carried out strikes on Iran's Qeshm Island in the Strait of Hormuz, while diplomatic efforts to end the conflict continued. Brent crude recovered more than 1 percent in the cited market update after a sharp fall in the previous session, underscoring the volatility in energy markets.
Investors were additionally positioning for the outcome of the US midterm elections. A separate Reuters report carried by Euronext said market participants were focused on the possibility of changes to AI oversight and broader corporate regulation depending on the election result.
Focus remains on overseas signals
With the Amsterdam session still underway, further direction was likely to depend on US equity futures, election-related headlines, oil-price moves and developments in the semiconductor sector. The AEX's 0.75 percent decline was therefore part of a broader risk-off move in European equities, rather than a confirmed end-of-day result.
Further AEX coverage is available on the AEX topic page.
