FRANKFURT (dpa-AFX) - In a weak stock market environment, economically sensitive semiconductor stocks came under pressure across Europe on Monday. Shortly after the opening of trading, Infineon in the DAX fell by 2.1 percent. ASML and BE Semiconductor recorded losses of just over three percent, but are still up around 28 percent and nearly 20 percent respectively in 2026.
Previously in Asia, semiconductor stocks that had performed very strongly also slumped: In South Korea, for example, Samsung Electronics and SK Hynix dropped significantly.
The trigger was President Donald Trump's nomination of Kevin Warsh as the new head of the US Federal Reserve. Warsh is generally considered a so-called hawk, tending toward a more restrictive interest rate path to get inflation under control. Hopes for interest rate cuts were thus dampened. As a result, prices for gold and silver plummeted – although they had previously risen sharply, driven by increasing speculation. Market participants therefore describe the situation more as the release of hot air than a genuine trend reversal.
Speculators who had bet on an even higher gold price with borrowed money are coming under pressure due to the price slump and must sell positions to avoid excessive risk. Hedge funds in particular may be forced to liquidate parts of their holdings, such as equities. As a result, the turbulence in the metals markets is at least temporarily putting pressure on stock markets as well.
Meanwhile, analysts at Morgan Stanley remain fundamentally positive on Infineon and raised their price target from 45 to 54 euros. Their rating remains "Overweight." The analysts at the US bank see the construction and expansion of data centers as a structural growth driver for the chip manufacturer./la/mis/jha/
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