Tariffs have sparked a firestorm on Wall Street. U.S.-Europe trade hostility, coupled with high tariffs on China, set off a firestorm across global equities. Tech stocks were the first to bleed, and semiconductor stocks, deeply enmeshed in cross-border supply chains, also bore the brunt.
ASML Holding N.V. (ASML), the Dutch titan behind advanced chipmaking machines, sank below $600, caught in the crossfire of tariff threats, export controls, and a brewing global slowdown. Yet, a surprise 90-day tariff pause sent ASML surging. Speculators scrambled to cover shorts, recession fears eased, and whispers of softer tariffs sparked a buying frenzy. But the euphoria fizzled fast as cooling inflation failed to soothe nerves, with trade tension fears snapping a brief rally into reverse.
