U.S. stock index futures and Asian stocks fell Wednesday as Texas instruments issued revenue warnings, deepening concerns about the global technology industry, and the British Parliament forced the government to press the pause key for the latest brexit deal.
E-mini Standard & Poor's 500 index futures fell 0.3%, while Japanese Nikkei. N225's latest offer was almost flat, after falling 0.4%. The MSCI Mingsheng Asia Pacific Index (excluding Japan) fell even more, at 0.5%.
On Tuesday, the S & P 500 index. SPX fell 0.36%.
Texas Instruments. SPX forecast that revenue for the current quarter is down 10-17% year-on-year, well below market expectations. Deyi is regarded as the barometer of global chip industry with its comprehensive product series.
Texas Instruments fell 9.8% in after hours trading, dragging down other chip stocks such as Intel (INTC. O) and NVIDIA (NVDA. O).
Concerns about sluggish demand and trade disputes between China and the United States are weighing on the global chip industry, pushing down some chip related stocks in Asia.
TSM. N, the world's leading foundry, fell 0.2%, SK Hynix (000660. KS) fell 0.7%, and Tokyo Electronics (8035. T) fell 3.7%.
"Given the recent gains in semiconductor stocks, some adjustments are inevitable," said nobuhiko kuramochi, chief analyst at Mizuho Securities.
"But our investor survey shows that many investors are still cautious about the industry, so they won't be surprised by some weakness in the industry," he added.
In foreign exchange, GBP = D4 fell 0.15% to $1.2851, further falling from Monday's five-month high of 1.3012.
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