European stock markets concluded a third consecutive day of losses on Wednesday. This downturn persists amid the looming threat of tariffs from the United States, which continue to impact corporate forecasts. The STOXX 50 index dropped by 0.8%, closing at 5,315, while the STOXX 600 decreased by 0.5%, settling at 543.
ASML experienced a significant decline of 11.4% following their announcement of no growth potential for 2026. The company cited uncertainties related to macroeconomic conditions and geopolitical tensions, including the possibility of tariffs on newly shipped systems and components to the U.S. and potential retaliatory actions from other nations. Despite these uncertainties, ASML managed to surpass its second-quarter revenue and earnings expectations.
In other market movements, Renault's shares plunged by 18.5% after the company lowered its profit margin forecast for the year. This had a ripple effect on other automobile manufacturers, with Stellantis dropping by 6.5% due to its significant reliance on the French automotive market.
Trade tensions remained a central concern, as President Trump indicated he might impose tariffs on the pharmaceutical sector by the end of the month, with the possibility of extending these measures to semiconductors in the near future.
