European chip stocks fall as Trump's tariffs take effect, signs of more to come

Shares in European semiconductor and tech stocks fall after U.S. President Donald Trump's tariffs took effect, including 104% levies on China

Trump also said the U.S. would soon announce a "major" tariff on pharmaceutical imports, which was one of the exempted sectors with semiconductors

STOXX Europe Technology index .SX8P is down 2.7%, among the worst performers on the wider STOXX 600 .STOXX which falls 1.5%

BESI BESI.AS, STMicroelectronics STMPA.PA and ams Osram AMS.S are down 4.6%, 4.8% and 5.7%, respectively

ASML ASML.AS and ASMI ASMI.AS slide between 3.2% and 3.7%, while Aixtron AIXGn.DE, Infineon IFXGn.DE and Siltronic WAFGn.DE fall 3% to 4.6%

Soitec SOIT.PA and Nordic Semiconductor NOD.OL fall around 4%