Global Market: European shares fall as tech selloff, Middle East tensions weigh; Saab gains

European shares declined with the pan-European STOXX 600 index down 0.6 percent at 639.94, heading for a modest weekly loss as investors rotated out of semiconductor stocks on valuation concerns. Technology stocks led the declines, dropping 2.3 percent, with Soitec falling 3.6 percent and ASMI and ASML each declining more than 4 percent despite upbeat forecasts from ASML and TSMC. Separately, geopolitical tensions rose after Iran launched fresh attacks on US facilities in the Gulf, pushing oil prices higher, while Swedish defence major Saab gained 3.4 percent on stronger-than-expected quarterly operating profit.