LIVE MARKETS-Tech sector pulls STOXX 600 lower
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TECH SECTOR PULLS STOXX 600 LOWER
A decline in European technology shares is dragging the STOXX 600 lower in early trade on Wednesday, after results from ASML and after Nvidia NVDA.O disclosed that the U.S. has imposed curbs on some chip exports to China.
ASML ASML.AS, the world's largest supplier of computer chip-making equipment, warned that tariffs are clouding the outlook, but maintained its annual guidance. Shares are still off 5.4% as net bookings missed estimates in the first quarter.
The tech sector .SX8P is Europe's laggard, down 2.7%, dragging down the broader market.
Defensive sectors are outperforming, with utilities .SX6P, food and beverages .SX3P and telecoms .SXKP all in positive territory.
The pan-continental STOXX 600 .STOXX is lower by 0.9%. Britain's FTSE .FTSE is down 0.5%, while France's CAC .FCHI and Germany's DAX .GDAXI are down 0.8% and 0.9%, respectively.
Looking ahead, markets are now awaiting a speech from Fed Chair Jerome Powell and updates on trade negotiations between the U.S. and major trade partners, with Japan set to kick off talks on Wednesday.
Here's your opening snapshot:
(Samuel Indyk)
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WEDNESDAY'S OTHER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL: FUTURES FALL AS TRADE TENSIONS TAKE ANOTHER TURN CLICK HERE
MARKETS WOBBLE OVER US-CHINA WRANGLING CLICK HERE
What will the Federal Reserve do with interest rates? https://reut.rs/3AUKkJV
China is under pressure to meet its growth target https://reut.rs/3Ep8AFJ
Soft start for Europe, US futures lower
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