Analyst: European stocks end five consecutive gains, energy stocks fall overshadow optimism about the Fed's rate cut

European stocks fell slightly on Tuesday, ending five consecutive gains. The decline in energy stocks overshadowed the recent optimism about the Fed's rate cut. The European Stoxx 600 index closed down 0.5% as falling oil prices hit energy stocks and bank stocks fell. Germany's DAX index fell 0.3%, ending its longest winning streak since 2014. At the beginning of this month, global risk assets suffered a setback as investors worried about a slowdown in the US economy, and high-valuation stocks such as technology stocks were hit particularly hard. In Europe, more defensive sectors such as telecommunications and healthcare stocks rebounded, helping the Stoxx 600 index rebound and is expected to hit a record high. "Generally speaking, it's healthy for the market to experience a small drop from time to time, which only reminds people that the market is not an escalator, it will not only go up but not down," said Michael Field, European market strategist at Morningstar.