Europe's Stocks Drop With Tech Shares Stealing Some Attention
(Bloomberg) -- European shares opened lower after a U.S. session that ended firmly in the red, and with Asian markets left searching for a clear direction.
The Stoxx Europe 600 index fell 0.4 percent. Technology shares were the worst performers, down 1.5 percent, followed by the auto and parts sector.
“Market participants will pay close attention on; in one hand any potential comments that could reassure the U.S.- China trade deal will not be derailed and, on the other, the somewhat negative message coming from the tech world,” said Stephane Ekolo, equity strategist at TFS Derivatives.
Europe’s largest semiconductor gear-maker ASML Holding NV now forecasts sales below analyst estimates, providing yet another reason for investors to watch for stock movements in the chip sector. In other company news, the Federal Reserve is said to examine how Deutsche Bank AG handled billions of dollars in suspicious transactions from Denmark’s Danske Bank A/S.
“So far, concerns of a clear global growth slowdown is taking center stage and corporate earnings are doing nothing to alienate those concerns,” Ekolo said.
©2019 Bloomberg L.P.