A sign at Broadcom Inc. headquarters on June 2, 2025 in San Jose, California.
David Paul Morris | Bloomberg | Getty Images
European stocks followed declines in their global peers on Friday as investors monitored a global decline in semiconductor manufacturing technology stocks.
Immediately after the opening bell, the pan-European Stoxx 600 index opened 0.2% lower. of london FTSE100 The day started 0.2% lower, while Germany dachshund France fell by 0.3%. Cac40 open flat.
A sell-off in tech stocks hit U.S. and Asian markets overnight and spilled over into Europe in morning trading. The Stoxx 600 Technology Index opened 2% lower, while semiconductor stocks Infineon Technologies and ASML fell 4% and 2.5%, respectively.
The downward move followed a lackluster US earnings report. broadcom It prompted a rotation of names of companies related to artificial intelligence into more defensive sectors.
The weakness was particularly pronounced in South Korea’s chip-heavy market. Kospi was last down 4.3%, with heavy stocks samsung electronics and SK Hynix They decreased by 4.3% and 7.6%, respectively.
In the United States, the Dow Jones Industrial Average hit a record high on Thursday, while the tech-heavy Nasdaq Composite Index underperformed.
The Dow Jones Industrial Average (30 stocks) rose 874.86 points (1.73%) to a record high of 51,561.93. The Nasdaq fell 0.09% to end at 26,830.96, while the S&P 500 rose 0.41% to 7,584.31.
In Europe, nokia Stocks ended down more than 6% as part of an unwinding in tech stocks after several consecutive days of strong gains for the sector.
On Thursday, President Donald Trump said he would be “honored” to meet with Iranian Supreme Leader Mojtaba Khamenei “if we can come to an agreement.” The war between the United States and Iran has entered its fourth month as the conflict remains in a fragile ceasefire.
