Semiconductor shares slid in late morning trading.
Arm, ASML fell over 7%; Applied Materials fell over 3%; AMD, Nvidia, Intel fell about 1%.
ASML, the largest supplier of equipment to computer chip makers, reported weaker than expected first-quarter new bookings on Wednesday, although sales to China held up despite U.S.-led restrictions on what it can export.
ASML kept its full-year financial forecasts unchanged, with sales seen flat from last year's 27.6 billion euros ($29.3 billion), although it is gearing up for strong growth in 2025.
Net income in the first quarter was 1.22 billion euros, down from 2.05 billion euros in the fourth quarter of 2023. Sales were 5.29 billion euros, down from 7.24 billion euros.