Tech stocks are slumping following disappointing earnings results from Apple last night.
$US66 billion was wiped off the Cupertino, California, tech giant’s value after it posted its quarterly earnings — prompting a drop in tech stocks across the globe. Investors had expected a greater volume of iPhone sales.
The Financial Times points out the UK chip company ARM Holdings is down 3.8% today, and the German Infineon Technologies is down 4.6%. TalkTalk, meanwhile, is down 6.6%.
Here is the Stoxx Europe 600 Technology Index: