https://www.oann.com/business/tech-stocks-drag-european/?utm_source=rss&utm_medium=rss&utm_campaign=tech-stocks-drag-european

(Reuters) – European stocks slipped from one-month highs on Wednesday, with technology stocks leading the losses as disappointing results from Wall Street giants and a warning from Dutch semiconductor supplier ASM added to concerns about slowing economic growth.

The pan-European STOXX 600 index fell 0.2% by 0719 GMT. The index hit more than a one-month high in the previous session on hopes that the U.S. Federal Reserve could slow its pace of interest rate hikes.

Technology stocks were the biggest decliners, down 1.7%, after downbeat results from Wall Street tech giants including Microsoft Corp and Alphabet Inc. [.N]

Further, ASM International tumbled 8.7%, after the company said it expected new U.S. export restrictions to weigh heavily on its sales in China.

Heineken NV slid 7.0% after the world’s second-largest brewery reported a lower-than-expected rise in beer sales during the third quarter.

Mercedes-Benz slipped 0.7%, despite the German luxury carmaker raising its margin forecast for its cars division.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi Aich)

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