European chipmakers shares slide amid Huawei CFO arrest

Shares of chipmakers from Europe saw losses during early trading in Paris and Frankfurt on Thursday, following news on the arrest of Huawei CFO Wanzhou Meng which prompted a broader selloff during the Asia-Pacific trading session.

Semiconductor manufacturer STMicroelectronics lost 5.09% at 10:49 am CET. French IT corporation Capgemini was down 6.36% at the same time. Meanwhile, German Infineon Technologies decreased 3.35% at 11:11 am CET.

In the meantime, German benchmark index DAX dropped to a two-year low, declining 2.42% at 11:16 am CET. The French CAC 40 fell 2.48% at 11:01 am CET. The euro was down 0.09 against the greenback, changing hands for 1.1335 at 11:17 am CET.

Baha Breaking News (BBN) / BM