Stock Movers ASML Down, Burberry Falls, Volvo Car Plunges
Jul 17, 2026
Chloe Millet, a Bloomberg reporter on European markets, breaks down major stock moves. She explains ASML's slide amid an Asian tech selloff and AI valuation doubts. She covers Burberry's mixed quarter and what it signals for its turnaround. She analyzes Volvo Car's sharp miss and lowered cash flow outlook.
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AI Chip Rally Faces Valuation Reckoning
- ASML and peers were swept into a tech sell-off after an Asian-led rout reduced appetite for highly valued AI chip names.
- Chloe Millet links the drop to stretched valuations and doubts whether massive AI infrastructure spending will sustain chip demand.
Burberry Growth Hits Expectations Not Surprise
- Burberry delivered first-quarter sales growth across all ranges for the first time in three years but shares fell on cautious guidance.
- Chloe Millet notes sales met expectations and geopolitical risks plus consumer confidence concerns weighed on the stock.
Volvo Shares Fall As China Weakens Demand
- Volvo Car plunged after missing Q2 expectations and cutting its sales growth target amid weakening Chinese demand.
- Chloe Millet connects this to broader auto-industry pressures: high materials costs and rising Chinese competition.