Chip stocks lead losses in Europe as AI selloff spreads
BUZZ-Chip stocks lead losses in Europe as AI selloff spreads ** Shares in European chipmakers fall in early trade as selloff in AI-exposed stocks spreads, dragging the wider STOXX tech index .SX8P 1.7% lower
** STMicroelectronics STMPA.PA, Soitec SOIT.PA, Infineon IFXGn.DE, and semiconductor testing company Technoprobe TPRO.MI are all down around 5%
** Siltronic WAFGn.DE, Aixtron AIXGn.DE, ASM International ASMI.AS, X-FAB XFAB.PA slide between around 3% and 4%
** Chip-equipment heavyweight ASML ASML.AS falls 3.3%, while BE Semiconductor BESI.AS is down 2.7%
** "It's all about the perception of the sustainability of the investments in AI," says Degroof Petercam analyst Michael Roeg
** In Asia, South Korea's KOSPI index slides more than 6% in a fifth straight session of losses, and Tokyo-listed memory-maker Kioxia 285A.T drops 13%
** On Monday, the US Philadelphia semiconductor index .SOX fell 2.7%
(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; gdansk.newsroom@thomsonreuters.com; +48 58 769 67 13;))
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