European stocks close lower for 3rd day in a row, tech stocks we
European stocks closed lower on Wednesday (July 17), the third consecutive day of declines, with chip stocks falling as investors remained concerned about the prospect of trade tensions between the United States and China, while the focus of investors was on the European Central Bank (ECB) policy meeting on Thursday.
The STOXX 600 index closed at 514.83 points, down 2.47 points or -0.48%.
The French CAC-40 index closed at 7,570.81 points, down 9.22 points or -0.12%, the German DAX index closed at 18,437.30 points, down 80.73 points or -0.44%, and the London FTSE 100 index closed at 8,187.46 points, up 22.56 points or +0.28%.
The STOXX 600 index fell to a one-week low, with tech stocks down 4.5%, their biggest decline since December 2022.
Shares of ASML, a major supplier of computer chipmaking equipment, fell nearly 11%, their biggest one-day drop in more than four years, amid concerns that U.S. government pressure could lead to tighter controls on chip exports to China.
Other semiconductor stocks also declined, with ASM International and BE Semiconductor both down more than 7%.
Eurozone data showed inflation was 2.5% year-on-year in June ahead of the ECB meeting on Thursday, which markets expect the ECB to keep interest rates unchanged.
The STOXX 600 index closed at 514.83 points, down 2.47 points or -0.48%.
The French CAC-40 index closed at 7,570.81 points, down 9.22 points or -0.12%, the German DAX index closed at 18,437.30 points, down 80.73 points or -0.44%, and the London FTSE 100 index closed at 8,187.46 points, up 22.56 points or +0.28%.
The STOXX 600 index fell to a one-week low, with tech stocks down 4.5%, their biggest decline since December 2022.
Shares of ASML, a major supplier of computer chipmaking equipment, fell nearly 11%, their biggest one-day drop in more than four years, amid concerns that U.S. government pressure could lead to tighter controls on chip exports to China.
Other semiconductor stocks also declined, with ASM International and BE Semiconductor both down more than 7%.
Eurozone data showed inflation was 2.5% year-on-year in June ahead of the ECB meeting on Thursday, which markets expect the ECB to keep interest rates unchanged.
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