European tech, chip stocks fall after Oracle's quarterly results miss Wall Street expectations

Shares in European semiconductor and tech firms fall after U.S.-based company Oracle's ORCL.N quarterly results missed market expectations

STOXX Europe Technology index .SX8P is down 0.8%, among the worst performers on the wider STOXX 600 .STOXX index, which slides 0.2%

A local trader says Oracle's figures has stoked worries that corporate demand for its AI-cloud services is cooling

"Should burden AI related names today," the trader adds

Equipment manufacturers ASML ASML.AS and ASMI ASMI.AS fall around 1.2%, while Franco-Italian chipmaker STMicroelectronics STMPA.PA is down 1%

French chip materials supplier Soitec SOIT.PA, Belgian semiconductor firm Melexis MLXS.BR and German software developer Teamviewer TMV.DE are down around 1%

Europe's largest software maker SAP SAPG.DE falls 2.9% to the bottom of Germany's blue-chip index .GDAXI