European stocks closed down 0.68%, chip equipment stocks under pressure.

OpenAI reportedly considering postponing its initial public offering (IPO) to next year, the news dragged down Asian stock markets and U.S. stock performance. However, the Dow Jones Industrial Average stabilized after falling more than 300 points on Friday; European stocks softened, with the pan-European Stoxx 600 closing down 0.68% at 635 points, reaching an intraday decline of as much as 1.41%, ending a two-day upward trend; the technology sector fell 1.2%.

U.S. semiconductor stocks continued the weakness of Asian chip stocks, with the Philadelphia Semiconductor Index dropping as much as 5.3%. Dutch chip equipment manufacturer ASMI shares fell 4.3%, and ASML fell 1%.

The UK FTSE 100 closed at 10,508 points, down 0.21% or 21 points; the German DAX closed at 24,671 points, down 1.29% or 323 points; the French CAC 40 closed at 8,384 points, down 0.55% or 46 points; the Italian FTSE MIB closed at 51,265 points, down 1% or 517 points; the Spanish IBEX 35 closed at 19,425 points, down 0.45% or 88 points.