THE GUARDIAN: Losses in Europe and Asia are driven by AI-related groups including Nvidia, Tesla and Google-owner Alphabet
Stock markets in Europe and Asia took a tumble on Thursday, as jitters over the future growth of major tech companies sparked a global sell-off.
The pan-European Stoxx 600 dropped 1.3% to its lowest level since May this year, having been hit by a 2.75% decline in the Dutch chipmaker ASML, a 5.5% drop in Germany’s Infineon Technologies, and a 12.8% fall in Switzerland’s semiconductor company STMicroelectronics.
The rout began in the US overnight, where the tech-focused Nasdaq fell 3.6% on Wednesday, marking its biggest single-day decline since 2022. About $1tn (£776bn) was knocked off the value of the Nasdaq 100, which covers the most valuable firms on the index. » | Kalyeena Makortoff | Thursday, July 25, 2024
