Europe Stocks Close Sharply Lower as Tech Stocks Lead Losses; Dutch Chip Firm ASML Falls 6%
European stocks closed sharply lower on Wednesday, tracking losses on Wall Street and in Asia-Pacific markets.
The pan-European Stoxx 600 index provisionally ended down 1%, with most sectors and major bourses in negative territory. Technology stocks dropped 3.2% to lead losses, while household goods fell 2%.
The sharp decline comes after the major U.S. averages kick-started September lower (U.S. markets were closed Monday for the Labor Day holiday), with the S&P 500 clocking its worst day since the early August global rout.
Wall Street's losing session saw chip names come under pressure after two readings of U.S. manufacturing production implied slowing growth for the the world's largest economy. U.S. stocks were little changed on Wednesday.
Source : CNBC
