European Chip Stocks Resume Fall After Day of Respite

Dow Jones10-20 16:22

0822 GMT - Shares of European semiconductor companies are in decline after a day of gains among global stocks exposed to artificial intelligence. Investors bought tech stocks at a discount on Monday following sharp declines last week, but the selloff resumed on Tuesday. In Asia, South Korea's SK Hynix closed 4.2% lower, while Samsung Electronics shed 3%. In Europe, shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are down 2.7% and 3.1%, respectively. Dutch supplier of semiconductor assembly equipment BE Semiconductor Industries is down 2.8%. German chip maker Infineon Technologies stock loses 2.9%. STMicroelectronics shares are down 3%. Meanwhile, the E-mini Nasdaq 100 futures contract is 0.4% lower, pointing to a weak opening for tech stocks in the U.S.

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