A warning from Dutch chipmaker
Friday sent European markets tumbling.
ASM said sales in 2001 would be 10% to 25% below those of 2000 and that demand does not even equal production capacity. The company said it has responded with a hiring freeze.
The announcement helped send the U.K.'s
down 132 to 5597, a loss of 2.3%. In Germany, the
was down 96 to 5794. Things were a little better in France, but the
still lost 33 to 5145.
In pre-open trading in on
in the U.S., ASM fell $2, or 8.7%, from its Thursday closing price of $23.