Oct 16, 04:37 AM

ASML's Lowered Outlook Sparks $420B Drop in Chip Stocks, Hits LVMH Sales and Luxury Sector

ASML has lowered its sales outlook, indicating factory overcapacity rather than a decline in chip demand. This forecast has led to a significant drop in global chip stocks, with a $420 billion decrease in market value. The weak outlook from ASML has also impacted Asian markets and luxury stocks, contributing to a broader market downturn. LVMH sales decline and the luxury sector overall have been affected. Additionally, the pound has plunged as inflation drops. Key companies affected include TSMC, Intel, Nvidia, and Samsung.

#Asian #TSMC #Intel #Nvidia #Samsung

Written with ChatGPT (GPT-4o).