Why ASML Stock Is Falling Today

ASML Holding N.V. ASML shares are trading lower Thursday amid a selloff in tech on rate hike fears following US jobs data.

Some stocks in the sector are also under pressure amid China's planned iPhone crackdown and Huawei's announcement of a new smartphone powered by a 5G Kirin 9000s chip.

What To Know: News of China's ban on the use of Apple AAPL devices for official use shook the technology sector Thursday, the first broad attempt by Beijing to curtail its dependence on foreign technology.

The rollout of a Chinese-made high-end smartphone which can realistically compete with the iPhone has helped support China's mission, with

Huawei's Mate 60 and Mate 60 Pro smartphones boasting performance levels matching those of 5G speeds.

Related Link: From Upstart To Establishment - How Airbnb's 51% Bullish Surge This Year Paves The Way For Its Inclusion In The S&P 500 Index

ASML Price Action: Shares of ASML were down 4.53% at $635.87 at the time of publication, according to Benzinga Pro.

Image by Willfried Wende from Pixabay