Shares of ASML Holding NV, a Dutch manufacturer of semiconductor production equipment, dropped by up to 9.4% to €634.70 (around US$665.64) during early trading in Amsterdam on Jan. 27.

This decline represents the company’s largest intraday decrease since Oct. 15.

The fall in ASML’s shares occurred alongside a 3% drop in Nasdaq 100 futures, indicating a wider decline in global technology stocks.

This market movement was reportedly driven by concerns regarding Western technological dominance following reports of advancements in artificial intelligence by the China-based startup DeepSeek.

The company has previously experienced growth due to increased demand that arose from advancements in AI technologies.