Japan's Nikkei 225 index fell 1.83% as semiconductor shares tumbled following a disappointing early report from ASML, highlighting weak demand outside the AI sector.
ASML's CEO warned of a sluggish recovery in semiconductors, indicating underlying weakness within the industry, particularly beyond the AI sector, impacting market sentiments.
In Europe, ASML's disappointing results combined with LVMH's troubling sales report highlighted a concerning trend, causing the Stoxx Europe 600 to decline 0.36%.
LVMH reported a significant 16% drop in sales in China's region and stated consumer confidence in mainland China has fallen to COVID-era lows.
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