European markets open cautiously after tech sell-off
European markets started Monday cautiously after last week’s technology sell-off. The AEX fell 0.1% at the open, while investors remained focused on concerns about AI-sector growth and returns on investment.
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European markets opened cautiously on Monday after sharp technology-share losses last week, with the Dutch AEX down 0.1% at 1,118.91 points shortly after trading began.
The sell-off on Thursday hit chip shares particularly hard amid concern that the Democrats’ midterm election gains in the United States could slow the growth of the artificial-intelligence sector. Those shares recovered somewhat on Friday, according to ANP.
At the opening in Amsterdam, chip-equipment suppliers ASMI and BE Semiconductor Industries were little changed, while ASML rose 0.5%.
Investors remain uneasy about whether technology companies will earn enough from their substantial AI investments. Attention was again focused on the sector on Monday after reports about Nvidia chief executive Jensen Huang and a woman whom intelligence services were said to suspect of being a Chinese spy. The report gave no further details about those claims.
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