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2026-07-17 15:50:13
[Chip Sell-off Sweeps Europe, Tech Giants Lead Decline, STOXX 50 Down 0.8%] ⑴ European stocks fell on Friday, with the STOXX 50 index down 0.8% and the STOXX 600 index down 0.6%. The chip stock sell-off spread from the US market to Europe, putting significant pressure on the technology sector. Renewed concerns about overvaluation offset positive earnings reports from ASML and TSMC, while escalating conflicts in the Middle East further dampened risk appetite. ⑵ Technology stocks led the decline, with ASML Holding down 3.9%, Infineon down 4.8%, and STMicroelectronics down 5.8%, among the biggest losers. Burberry also lagged, falling about 5%, as its earnings failed to impress investors. Utilities and consumer staples sectors bucked the trend, with Saab up 2.6% after announcing record orders; Vodafone up 3.0% and State Grid up 2.2%, the best performing stocks of the day. On the weekly chart, the STOXX 50 has risen 0.2% cumulatively, and the STOXX 600 has risen 0.4% cumulatively.
