Yahoo Finance MarketPulse Europe: Tech Sector Falters After Wall Street Meltdown
Investing.com - European technology stocks were among the worst performers in midday trade on Wednesday, as sentiment was dampened following a sharp overnight selloff in the highly valued U.S. tech sector on Wall Street.
The pan-European Stoxx 600 Technology index was down 1.5% by 6:40AM ET (11:40 GMT), hitting the lowest level since Nov. 27.
Shares of Austrian chipmaker AMS AG (SIX:AMS) led losses, tumbling more than 5%, while STMicroelectronics NV (PA:STM), and Infineon Technologies AG (DE:IFXGn) fell 1.4% and 1.3% respectively.
Software names were also lower. ASML Holding (AS:ASML), SAP SE (DE:SAPG) and Software AG (DE:SOWGn) all fell between 2% and 3%.
Apple (NASDAQ:AAPL) suppliers were on the backfoot, with shares of Dialog Semiconductor (DE:DLGS) sliding 3.2% in Frankfurt, while ASM International NV (AS:ASMI) lost 1%.
The moves come after Wall Street tumbled on Tuesday, with the tech-heavy Nasdaq Composite plunging 3.8% to close in correction territory.
U.S. markets are closed Wednesday to mark a national day of mourning for the death of former President George H.W. Bush.
-- Reuters contributed to this report
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