European shares fall amid tech losses

Europe’s main stock index fell on Tuesday as market sentiment was subdued amid geopolitical tensions boosting demand for safe havens, with chip stocks the biggest drag after a disappointing outlook from industry leader Nvidia.

The pan-European STOXX 600 index was down 0.1% by 0820 GMT and was set to fall for a fifth straight session amid uncertainty over the escalating conflict between Ukraine and Russia and the potential impact of Donald Trump’s victory at home.

Chipmakers ASML, Infineon and ASM International fell after AI chipmaker Nvidia, the world’s largest company by market value, forecast its slowest revenue growth in seven quarters.

Switek, meanwhile, jumped 14% after the French semiconductor supplier reported first-half results, limiting losses in the tech sector.

The personal and household goods, retail and auto sectors were the hardest hit, falling between 0.8% and 1%. CTS Eventum fell 8% after the German ticketing group reported nine-month results, while JD Sports Fashion dropped 13% after the sportswear retailer warned that its annual profit would come in at the lower end of its forecast range.