FRANKFURT (dpa-AFX) - Technology stocks had a difficult time on Monday in the face of the Nasdaq weakness before the weekend. The Stoxx Europe 600 Technology sector index extended its correction particularly sharply, with semiconductor stocks under particular pressure.

STMicro lost around three percent after a downgrade by TD Cowen's experts, taking them back to their November low. Infineon look better overall, but also lost 2 percent at the Dax end. Aixtron plunged more than 7 percent in the MDax.

Analyst Tim Wunderlich of Hauck Aufhäuser Investment Banking had removed his buy recommendation for Aixtron. His price target of €13.80 is still below the current Xetra level. Sluggish consumer demand, political risks with regard to the development of e-mobility, and high inventories in the supply chains are likely to continue to weigh on demand for silicon carbide (SiC) power semiconductors in 2025, he wrote./ag/mis