LIVE MARKETS-Europe before the bell: futures fall as trade tensions take another turn

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EUROPE BEFORE THE BELL: FUTURES FALL AS TRADE TENSIONS TAKE ANOTHER TURN

European equity futures are lower on Wednesday, with the mood dented after Washington announced it would be restricting some AI chip sales to China.

Nvidia said it would be facing a $5.5 billion charge after the U.S. measures, sending its shares lower after-market and weighing on Nasdaq futures NQcv1 which are off 2.2%.

European stocks futures have followed suit. Euro STOXX 50 futures STXEc1 are down 1.4%, with futures in Frankfurt FDXc1, Paris FCEc1 and London FFIc1 down between 0.6% and 1.1%.

Sticking with the tech theme, ASML ASML.AS, the world's largest supplier of computer chip-making equipment, said tariffs were creating uncertainty for the outlook. It reported net bookings below analyst consensus estimates in the first three months of 2025.

In other corporate news, Heineken HEIN.AS said organic net revenues grew 0.9% in the first quarter, slightly exceeding analyst expectations.

Away from equities, the dollar =USD remained on the back foot, falling across the board, while U.S. Treasury yields US10YT=RR were steady before a speech from Fed Chair Jerome Powell on the economic outlook later in the session.

(Samuel Indyk)

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