European shares under pressure from chipmakers, Ryanair, trade worries
- European stock markets struggled in the face of a U.S. crackdown on China’s Huawei Technologies on Monday after a report that German-based chipmaker Infineon had halted shipments to Huawei.
Tech stocks fell the most across all European sectors as the report on Infineon followed news on Sunday that Google was suspending some business with Huawei. AMS, STMicroelectronics, and ASML were down between 3% and 7% as fears of a disruption to the industry’s global supply chain grew. EasyJet Plc, Lufthansa AG and Air France, all slid in response, pushing the travel and leisure sector down almost 1%.
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