![\"Techbehemoth](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/06\/chips-1200x800-1.jpeg\")
\t\tChipmakers helped lead a market sell-off on Tuesday.\t<\/p>\n\t\t\tWednesday 24 June 2026 6:28 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tWednesday 24 June 2026 8:37 am\n\t<\/p>\n
\t\tChipmakers helped lead a market sell-off on Tuesday.\t<\/p>\n
Welcome back to the City AM<\/strong> liveblog.<\/p>\n European markets modestly extended their losses on Wednesday morning, despite markets in Asia pulling back into the green, after a bruising sell-off had investors across the globe dumping their equity exposure.<\/p>\n In Europe, the FTSE 100 closed down just shy of 0.1 per cent on Tuesday, undershooting the bigger losses seen on Germany\u2019s Dax at one per cent, France\u2019s Cac 40 at 0.7 per cent and Amsterdam\u2019s AEX at 1.6 per cent.<\/p>\n The City benefited from its lower tech exposure, after jitters around the industry led the sell-off.<\/a><\/p>\n Over on Wall Street the tech-heavy Nasdaq slid 2.2 per cent as investors rushed to offload their exposure to the AI market. Alphabet \u2013 which boasts a market cap of over $4tn \u2013 was down 0.7 per cent. More drastic losses were seen across the semi-conductor stocks with memory chip maker Micron down over 13 per cent and components maker Seagate Technology down five per cent.<\/p>\n But Space X \u2013 which yesterday was being cited as the \u201cculprit\u201d for kicking off the sell-off after its bond sale \u2013 finished the day up one per cent higher.<\/p>\n New York\u2019s broader index the S&P 500 finished down 1.4 per cent whilst the Dow Jones was broadly flat.<\/p>\n \u201cAI might have been the fuel that\u2019s kept global stock markets fired up despite global instability, but the amount of cash flowing through all those\u00a0tech\u00a0companies has made some investors uncomfortable,\u201d said\u00a0Danni Hewson, head of financial analysis at AJ Bell.<\/p>\n She added: \u201cFOMO (Fear of missing out) was replaced with a fear of being burnt if the now expected chunky earnings numbers don\u2019t continue to surge.\u201d<\/p>\n The jitters were enough to offset positive new developments in talks between the US and Iran, with Trump\u2019s Vice President JD Vance stating there was \u201cgood foundations\u201d for a final peace deal. <\/p>\n The price of oil has also continued its move lower, with Brent crude slipping under $77 per barrel. This came as Donald Trump lashed out <\/a>at big oil firms for \u201cnot dropping their price at the pump\u201d meaning customers were \u201cgouged\u201d.<\/p>\n We\u2019ll be bringing you the latest market updates and analysis.<\/p>\n \t\t\t\t\tRead more<\/p>\n