EU telecom stocks fall after SpaceX’s move to become a wireless carrier

Investing.com -- European telecom stocks fell Friday after Space Exploration Technologies said it will buy a nationwide U.S. spectrum portfolio, a push to turn Starlink into a full-fledged mobile carrier. Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now » Deutsche Telekom slumped 7% in European trading by 07:27 GMT, Vodafone shed 3.1%, and Orange SA fell 2.6%. Telefonica slid 2.5%, and BT Group slipped 1.4%, while Koninklijke lost 2.1%. Shares of U.S. telecom giants AT&T, Verizon and T-Mobile also dropped in extended trading Thursday after The Wall Street Journal first reported the deal.