Tech stocks continue to decline, European stock indexes fall

Glonghui, July 23rd | European stock indices opened lower, with previously rising consumer stocks giving back some gains. Technology stocks continued to weaken, and the STOXX 600 index fell 0.7%. After the financial report of STMicroelectronics was released, its share price plummeted by more than 15%, dragging down the French and Italian stock indices. The FTSE MIB index in Italy dropped 1.4%, while France’s CAC40 index declined 0.9%, with luxury stocks extending recent losses. LVMH fell 1.9%. Germany’s DAX index dropped 0.8%, and chipmaker Infineon’s share price fell 5.6%. Pharmaceutical stocks slipped, with GlaxoSmithKline down 2.3% and AstraZeneca down 1.8%. AI-related stocks pulled down the Netherlands’ AEX index by 0.8%. BE Semiconductor’s share price fell 3.1% after its earnings report was released.