AEX closes 0.7% lower at 1,128.29 points as tech stocks sell off

The AEX closed lower on Thursday, November 5, 2026, as a sell-off in technology stocks intensified during the session. The Dutch benchmark finished at 1,128.29 points, down 0.7%, or 8.00 points, from Wednesday's closing level of 1,136.29 points. The Amsterdam session had ended by the 18:30-19:30 Europe/Berlin reporting window, making this a closing report rather than an intraday update.

The closing level and daily performance were reported by De Aandeelhouder. The preceding close of 1,136.29 points was reported in market coverage by Edge Consultancy.

Semiconductors lead the decline

Chip stocks were among the main sources of pressure. ASML fell 6.6%, ASM International lost 7.0% and BE Semiconductor declined 7.3%, according to the closing market report. The losses reflected broader concern about the sustainability of the artificial-intelligence investment boom and the outlook for demand from data-centre operators.

The weakness was not confined to Amsterdam. The same report described sharp declines for Arm Holdings and Qualcomm in the United States, while Intel, Nvidia and AMD were also under pressure. As the US market moved lower, the AEX gave up its earlier gains and finished in negative territory. This sequence indicates that the late-session deterioration in global technology sentiment coincided with the AEX's decline, but it does not establish a direct causal relationship for every index move.

Defensive rotation limits the damage

Investors shifted toward more traditional parts of the market as technology shares weakened. DSM-Firmenich was the strongest AEX constituent, rising 5.5% to 113.30 euros after UBS raised its price target following the company's quarterly figures. Adyen gained 4.5%, while Prosus advanced 2.8%.

Outside the strongest performers, the session also showed that company-specific news could partly offset the sector-wide pressure. ArcelorMittal initially benefited from quarterly results that exceeded expectations, but the share price eventually ended 1.1% lower. IMCD declined 1.1% after its trading update.

For investors, Thursday's close leaves the AEX 0.7% below its previous session while highlighting the index's sensitivity to the large technology and semiconductor names. The next move will depend on whether the pressure on AI-related stocks persists and how European markets respond to further US trading developments.

Further AEX coverage is available on our AEX topic page.