FX.co ★ European Stocks Lower, ASML Tumbles

European equities experienced a downturn on Tuesday, with both the STOXX 50 and STOXX 600 indices reducing by 0.6%. This decline can be attributed to ongoing trade war tensions and investors' reactions to the latest batch of corporate earnings. The technology sector suffered the most significant losses, with ASML's shares plummeting by 6.5% following a report of disappointing first-quarter net bookings. Furthermore, the CEO cautioned that "uncertainty with some of our customers" might lead to full-year revenue aligning with the lower end of projections. Additional strain on the technology and semiconductor industries was caused by Nvidia's announcement that the US government had prohibited the sale of certain AI chips to China without obtaining a license. Nvidia also projected a $5.5 billion revenue shortfall for the current quarter due to these restrictions. The basic resources and financial services sectors were also among the poorest performers.