European stocks posted their sharpest weekly and monthly declines since the COVID-19 selloff in March, as a new round of COVID-19 lockdowns threatened hopes for a sustained economic recovery.
With Spain, one of Europe’s worst COVID-19 hot spots, declaring a state of emergency until early May, and Germany and France reimposing tight restrictions this week, the STOXX 600 lost more than 5% on the week, pushing the monthly performance into negative territory.
Heading into the week of U.S. Presidential elections, a slide in Wall Street’s big tech stocks after earnings overnight also weighed on global sentiment, with Europe’s tech sector slipping 0.5%.
Apple suppliers ASM International, Dialog Semiconductor, and STMicroelectronics fell between 1.2% and 1.7% after the late launch of new 5G iPhones caused customers to put off buying new devices.
MacDailyNews Take: Apple suppliers will be just fine, thanks.