Market reacted negatively to increased valuations in the tech sector - Nov 21, 2025

As of November 21, today’s news sees market fluctuations influenced by both tech stocks and concerns over metals supply. Prysmian experienced a decline, with shares dropping 4.6% as the broader European market reacted negatively to increased valuations in the tech sector and uncertain U.S. monetary policy. In the commodities sector, European manufacturers warned of potential copper shortages due to a surge in scrap exports, particularly to China. Companies highlighted that unless the European Union restricts the export of copper scrap, they may face critical shortages in refined copper necessary for production. This concern was echoed in a position paper by leading industry players, who fear a combined scrap and cathode shortage could hinder semiconductor fabrication. Recent increases in copper scrap exports, which rose 31% since 2022, particularly to the U.S., are alarming industry executives. Aluminium scrap has also emerged as a focal point in the global competition for critical minerals. EU officials are considering measures to retain more recyclable material within the bloc to combat escalating export rates, uniquely tying this issue to geopolitical tensions with the U.S. and China. As trade tensions rise, industry associations are advocating for smart export controls to manage supply. On the technology front, a trend of significant public bond issuance among major U.S. tech companies as they rush to finance AI investments is generating caution among investors. Giants like Alphabet and Meta have collectively raised nearly 90 billion dollars, raising concerns about how this could impact the corporate bond market in the long term. From the international front, President Zelenskiy of Ukraine urged unity in response to a controversial peace plan presented by the United States that demands significant concessions from Ukraine. This declaration underscored the growing pressure on Ukraine as it balances the challenges of maintaining sovereignty while managing relations with powerful allies.