Stocks Slide In Reality Check From Big Cap Earnings

Global stocks fell on Wednesday after gloomy results from European heavyweights LVMH and tech company ASML dented sentiment, while the dollar gained as investors banked on a more moderate decline in US interest rates, Reuters reported.

The semiconductor market beyond AI has been weaker for longer than expected. I Photo: Jean-Christophe BENOIST Wikimedia Commons

ASML, whose customers include TSMC and Samsung, delivered a gloomy sales forecast for 2025 on Tuesday, saying the semiconductor market beyond AI has been weaker for longer than expected.

Meanwhile, shares in LVMH, considered a play on the Chinese consumer more than anything else, tumbled by the most in a year after reporting weaker-than-expected third-quarter sales.