On March 13, 2023, European stocks took a hit as the negative sentiment from the previous trading session continued. The pan-European Stoxx 600 was down by 0.52% with all major bourses in the region experiencing a decline. Tech stocks saw a significant 2.84% drop, while banks managed a slight 0.64% rise. Dutch semiconductor firm ASML saw a 6.7% decrease in shares following reports of potential trade restrictions for chip equipment firms exporting to China. The UK reported a 2% inflation rate for June, slightly higher than forecasts but in line with previous months and the Bank of England's target rate. This news, along with geopolitical uncertainty, weighed heavily on the chip sector and overall market performance in Europe on that day.