In this discussion, Lizzie Burden, Bloomberg's UK correspondent, dives into the alarming $420 billion plummet in chip stocks, chiefly due to a drastic slowdown at ASML. She highlights the implications of potential tariffs by the EU if Trump returns to power, stirring political tensions. The talk also sheds light on LVMH's first sales drop since the pandemic, reflecting waning demand from Chinese consumers, and raises concerns over the UK budget amidst escalating political challenges.