A look at the day ahead in European and global markets from

Ankur Banerjee

Tech stocks are yet again set to sway the wider markets

after a lacklustre forecast from Facebook parent Meta Platforms ( META )

sparked a broad sell-off across regions.

Meta's lower-than-anticipated revenue forecast along with

guidance for higher expenses knocked $200 billion of its market

value and dragged several of its rivals lower as worries over

the surging cost of AI weighed on sentiment.

Asian tech stocks followed suit and were

down 2%, with tech heavy Taiwan and South Korean stocks

both down 1%. All eyes now will be on European tech

stocks

Earnings from Intel ( INTC ), Alphabet and

Microsoft ( MSFT ) will probably paint a fuller picture of how

firms are faring in the AI race.

An earnings-filled Thursday awaits traders in Europe, with

banking firms in the spotlight, while yen watchers keep looking

around for a possible intervention now that the currency has

breached past the psychologically key 155 per dollar level.

Deutsche Bank, BNP Paribas SA and

Barclays Plc ( JJCTF ) are due to report their earnings and the

focus will be on their net interest margin especially with

interest rates in Europe and UK priced to fall in the second

half of the year.

Turkey's central bank will not trim its policy rate from the

current 50% until the fourth quarter, a Reuters poll of

economists showed. Their policy decision is due later in the

day.

The yen has firmly breached the latest line in the sand of

155 per dollar and while the spectre of intervention from Tokyo

looms large, the lack of chatter from the Ministry of Finance

may perhaps embolden yen bears.

The Bank of Japan concludes its policy meeting on Friday and

the attention will squarely be on BOJ Governor Kazuo Ueda's

comments and his tone. Ueda will be mindful of avoiding the

episode of 2022, when his predecessor's dovish remarks triggered

a yen plunge that forced Tokyo to intervene, spending an

estimated $60 billion to defend the yen.

Key developments that could influence markets on Thursday:

Economic events: Turkey rate decision

Earnings: Deutsche Bank, BNP Paribas SA

, Barclays PLC ( JJCTF ), AstraZeneca PLC ( AZN ) and J

Sainsbury ( JSNSF )

Intel Corp ( INTC ), Microsoft ( MSFT ), Honeywell ( HON )

and Alphabet

(By Ankur Banerjee; Editing by Muralikumar Anantharaman)