FX.co ★ European Stocks Close Lower

European equities reversed early gains to finish sharply lower on Tuesday, weighed down by steep declines in AI infrastructure names and major industrials. The Euro STOXX 50 slipped 0.6% to 6,170, while the STOXX Europe 600 edged down 0.2% to 635. ASML dropped 4.2% ahead of its earnings release this week, mirroring heavy losses among chipmakers across key Western markets after Chinese semiconductor firm CXMT announced a breakthrough in memory architecture that competes with leading Korean and US peers. Meanwhile, LVMH ended slightly lower after revenue from its fashion and leather goods division fell 5% year-on-year in the third quarter, reflecting weaker demand in China. The news also led analysts and brokers to downgrade Hermès, sending its shares down 2%. In contrast, bank stocks were mostly higher, with UniCredit and Nordea each gaining nearly 1%.