Friday saw European markets fall into negative territory as local traders responded to a sell-off of the stock of chipmaker behemoth Nvidia and new tariff threats from U.S. President Donald Trump.
By 1:40 p.m. London time, the pan-European Stoxx 600 index had dropped 0.34%, reversing the larger losses of the morning.
While the London FTSE 100 increased by 0.3%, the German Dax and French CAC 40 both had declines of about 0.5%. On Friday, the Stoxx Technology index led regional losses, falling almost 1.5% in afternoon trading.
After Nvidia had a significant selloff on Wall Street on Thursday, which erased $273 billion from the company’s worth, shares of businesses in the European semiconductor sector faced losses on Friday morning.
BE Semiconductor, a Dutch semiconductor company, saw a 1% decline, while ASML and Infineon both saw losses of about 2.5 percent.
With Trump threatening to put 25% charges on EU goods, regional markets ended Thursday’s session lower. Trump said the tariffs would be announced “very soon” and would apply to “cars and all other things.”
Source (CNBC)
