European tech stocks fall to six-month low
Technology
European tech stocks fall to six-month low
LONDON (Reuters) - European technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor stocks following disappointing earnings from Intel.
The STOXX Europe 600 technology index was last down 3.6% to its lowest since January. The broader STOXX 600 index index was down 1.3%.
Shares in chipmaker Intel slumped 20% premarket after the company suspended its dividend and said it would cut 15% of its workforce as it grapples with a pullback in spending on traditional data center semiconductors and a focus on AI chips.
Amazon shares are also down around 8 in premarket trading after reporting slowing online sales growth.
Global equity markets tumbled around the globe, with the S&P 500 ending Thursday's session down 1.4%.
Tech stocks tumbled in Asia earlier in the day, contributing to a 5.8% fall in Japan's Nikkei, and a 3.65% drop in Korea's KOSPI, benchmark.
