Europe midday: Tech sell-off, Iran tensions send shares lower
By Frank Prenesti
Date: Friday 17 Jul 2026
(Sharecast News) - European stocks were lower on Friday as a sharp sell‑off in tech stocks across Asian markets and higher oil prices fed into risk‑off sentiment at the open.
The benchmark STOXX 600 was down 0.46% to 640 by 1148 BST, with investors reducing their exposure to cyclicals and tech after a bruising overnight session for semiconductor and artificial intelligence‑linked firms.
Asian markets tumbled after heavy losses in South Korea and Japan, where chipmakers led declines. SK Hynix dropped more than 10% and Samsung fell sharply, while the Nikkei slid nearly 3% as investors reacted to renewed concerns over global electronics demand.
European peers fell on the news, with ASML, ASM, Infineon, and BE Semiconductor all lower.
Sentiment was also it by simmering geopolitical tensions in the Middle East, which kept oil prices elevated and added to inflation worries and fears on interest rate rises this year.
Brent crude sat just below $86 a barrel as US troops boarded a vessel in the Strait of Hormuz as part of its renewed blockade of the waterway and crippled another trying to run the gauntlet.
In other equity news, Lagercrantz and AAK both slumped after quarterly results.
Tomra Systems surged after the company posted better-than-expected results.
Reporting by Frank Prenesti for Sharecast.com
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