European stocks sank at the open on Wednesday as weaker-than-expected earnings from ASM International, the Dutch chip tool manufacturer, reawakened investors fears of a coming economic slowdown.
Europe’s region-wide Stoxx 600 and France’s CAC index both fell more than 1.1 per cent in the first hour of trade.
ASMI dropped 11.8 per cent in Amsterdam after it warned demand had weakened in the first quarter and would stay depressed for the remainder of the year. Sales in the second half…
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