What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
European chipmakers go down due to iPhone demand scare
On Wednesday, European tech equities headed south because the region revived from a two-day trading holiday and market participants reacted digested reports that demand for Apple's iPhone X might be weaker than anticipated.
The pan-European STOXX 600 went down by 0.1%, reversing earlier profits because a downturn in the high-performing tech sector managed to outweigh firm mining as well as oil stocks.
As for euro zone blue chips, they also went down 0.1%, with the index moderately down on the month and also set for its second straight month of dips.
Meanwhile, tech stocks SX8P inched down 1%, which is the worst-performing sector because the market reacted to a downturn in Asian iPhone suppliers right after brokers cut their estimates for iPhone X shipments, telling that sales of the fresh model might undershoot hopes.
Chipmakers Infineon as well as STMicro dived respectively 1.5% and 2.3%.
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