Europe's most valuable company loses millions after what some analysts say 'nightmare scenario' for ASML due to China's ...

Shares of ASML , Europe's most valuable technology company, fell sharply on July 28. The stock dropped more than 5% in early trading, wiping billions off the company's market value. The decline came after reports that a Chinese state-backed company has started making deep ultraviolet (DUV) lithography machines, a market long dominated by the Dutch chip equipment maker. While analysts said China's technology still lags behind ASML's, the development is being seen as a potential long-term challenge to the company's strong position in the global semiconductor industry as China continues its push to build advanced chipmaking equipment despite export restrictions.