Global financial markets experienced volatility at the end of the week due to a decline in the technology sector. The index of technology companies fell by 1.6%. Shares of ASM Pacific Technology, specializing in microchip production, were among the leaders of the decline due to the disappointing earnings of Applied Materials from the USA in the first quarter, lower than expected.
The broad market index dropped by 0.9%, falling to a three-month low, reached earlier this week. Shares of healthcare companies fell by 2.3%, including a 15.5% drop in Bayer Nordic shares, after the Danish biotechnology company reported third-quarter results.
The European STOXX 600 index also fell on Friday due to a decline in stocks in the technology and healthcare sectors, marking its fourth consecutive weekly loss. European vaccine manufacturers have also been under pressure.