Shares of European tech and semiconductor stocks were down on Monday, as worries over a possible U.S. recession after soft data gripped financial markets and triggered a rush out of this year’s top-performing stocks and into safe-haven assets.
The STOXX tech index was last down 4.1 per cent, making it the worst performer among sectoral indices on region-wide STOXX 600, which shed some 3 per cent.
A report that Nvidia could delay its AI chip also weighed on sentiment.
The tech index already lost 6 per cent on Friday after weaker-than-expected U.S. job growth and factory data, and disappointing earnings from U.S. heavyweight Intel.
Chip equipment makers cslumped 12 per cent, on top of a 13 per cent fall on Friday. ASML, the largest maker of equipment used to manufacture computer chips, was down 4 per cent.
BE Semiconductor and STMicroelectronic were down around 5 per cent.
