European tech stocks have bounced back far more quickly than their U.S. counterparts following the DeepSeek AI rout.
The pan-European Stoxx 600 Tech index jumped more than 3% Wednesday, climbing above its Friday closing level–before the Chinese startup’s AI developments spooked markets. In contrast the Nasdaq Composite is still 1.1% below its Friday close, heading into the trading day.
Dutch semiconductor equipment maker ASML did much of the heavy lifting as the stock jumped more than 7% after the company beat earnings expectations and signaled strong bookings. German software company SAP was also up 2% following its better-than-expected earnings on Tuesday.
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