European shares opened lower on Tuesday, as industrial stocks came under pressure following Airbus’s dour update, while technology shares slumped tracking an overnight selloff on Wall Street.

The continent-wide STOXX 600 fell 0.3% by 0707 GMT, with Airbus, dropping 8.4%, being among the biggest drag on the index, after Europe’s largest aerospace group cut industrial and financial targets, and took a hefty 900 million euro ($965 million) charge for its troubled space activities.

The industrial goods and services sector dropped 1.5% early on.

European shares start week on bright footing on autos

The tech sub-index, which houses some of Europe’s biggest chip-related firms, dropped 1.5% tracking overnight weakness in US bellwether Nvidia. Germany’s Merck shed 8.7%, after the drug maker said it has stopped its trials for xevinapant in advanced head and neck cancer.

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The market’s focus would remain on the first round of French parliamentary elections later in the week, with Paris stock market operator Euronext’s CEO stating that the prospect of a politically extreme party with little or no government experience reaching power is worrying investors.