Tech sell-off reaches Europe, ASML sharply lower
Investors question AI profits and seek more certainty after higher US inflation.
Follow-up to: Tech sell-off puts Asian markets under pressure Thursday, 15 October 2026, 06:58
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The global sell-off in tech shares reached Europe on Thursday. On the Amsterdam exchange, ASML was down 6.7 per cent at one point, while ASMI and BESI also fell sharply.
In Amsterdam, the decline was concentrated among chip companies. According to NOS, ASML was down 6.7 per cent at its lowest point compared with Wednesday’s closing price. ASMI was around 8 per cent lower and BESI lost more than 5 per cent. The AEX was down 0.85 per cent at around that time, meaning tech was chiefly dragging the broader market lower.
The European movement followed a difficult trading day in Asia. South Korea’s Kospi index fell 7.57 per cent and Japan’s Nikkei almost 5 per cent. Samsung Electronics and memory-chipmaker SK Hynix fell by around 10 per cent. Taiwan, China and Hong Kong also closed lower. Chipmaker TSMC lost 2 per cent, despite new record profits and a positive outlook for demand for AI chips.
The immediate cause lies partly in the United States. The US Bureau of Labor Statistics reported on Wednesday that consumer prices in September were 3.7 per cent higher than a year earlier. In August, the figure was 3.4 per cent. Prices also rose 0.6 per cent in September compared with the previous month. The figures fuelled fears that the US central bank may have to keep interest rates high for longer or raise them again.
That is particularly a problem for companies whose expected profits lie far in the future. Higher interest rates make financing more expensive and reduce the present value investors assign to future cash flows. The concerns therefore affect not only chipmakers but also companies building data centres and other AI infrastructure with substantial amounts of borrowed money.
The doubt is not simply about whether AI technology exists. Investors are primarily asking whether the billions being invested will generate profits quickly enough to justify current valuations. Reuters described the movement as a reassessment of the cost of capital; AP quoted an analyst who pointed to a possible gap between expectations for tech growth and what the sector ultimately delivers.
ASML’s share-price fall stands out because the company had presented strong figures on Wednesday. ASML reported revenue of €11.7 billion and net profit of €5.0 billion for the third quarter. The company expects revenue of €14.2 billion to €15.2 billion in the fourth quarter and forecasts €44 billion to €45 billion for the whole of 2026. According to ASML, customers are already showing interest in orders for 2029 and 2030.
Those figures offered no protection against the broad risk aversion on Thursday. According to market commentator Saxo, healthcare, consumer goods and energy performed relatively better than technology. Investors are therefore temporarily seeking greater certainty in sectors with more stable revenues, while chip funds and other AI-related shares remain more sensitive to interest rates, valuations and doubts about the payback period for new investments. Final closing figures were not yet available when this was written.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The share-price movements, inflation figures and ASML results can be found in publicly available primary or independent sources. The commentary on interest-rate sensitivity and sector rotation is attributed as market interpretation and is not presented as established fact.
- confirmed ASML was down 6.7 per cent at one point on Thursday; ASMI lost around 8 per cent and BESI more than 5 per cent. — Mentioned by NOS in its report of 15 October 2026. source
- confirmed The AEX was down 0.85 per cent around the time of NOS’s publication. — NOS gives this interim figure. source
- confirmed The Kospi fell 7.57 per cent and the Nikkei almost 5 per cent. — The percentages are given by NOS and AP; AP reports a fall of 4.9 per cent for the Nikkei. source
- confirmed US consumer prices rose 3.7 per cent year on year in September and 0.6 per cent month on month. — Official publication by the US Bureau of Labor Statistics. source
- confirmed ASML reported €11.7 billion in revenue and €5.0 billion in net profit for the third quarter. — ASML gives both figures in its quarterly report. source
- confirmed ASML expects revenue of €44 billion to €45 billion for the whole of 2026. — The forecast appears in ASML’s official quarterly report. source
- confirmed Healthcare, consumer goods and energy performed relatively better than technology. — This sector rotation was reported by Saxo in its market overview of 15 October. source
Editor's note
The interim share-price falls mentioned, the US inflation figures and ASML’s quarterly figures are certain. The explanation that investors are rotating into more defensive sectors is market commentary; final closing figures and the further path of interest rates were still unknown at 14.10.Sources
- Tech-aandelen dalen door AI-twijfels, ASML fors in de min — NOS
- A tech sell-off drags stocks lower as markets in South Korea and Japan sink — AP
- Consumer Price Index News Release - September 2026 — U.S. Bureau of Labor Statistics
- ASML reports €11.7 billion total net sales and €5.0 billion net income in Q3 2026 — ASML
- Tech sell-off gathers pace as chipmakers hammered — Reuters via Euronext
- London Quick Take - 5 Things to Know in Markets Today - 15 Oct — Saxo
The story so far
- Wednesday, 14 October 2026, 20:58 US inflation rises to 3.7 per cent
- Wednesday, 14 October 2026, 22:28 Wall Street slides on higher rate fears and AI risk
- Thursday, 15 October 2026, 06:58 Tech sell-off puts Asian markets under pressure
- Thursday, 15 October 2026, 14:11 Tech sell-off reaches Europe, ASML sharply lower (this article)