Italian Stocks Plunge Amid Tech Selloff

2026-11-05 15:58 By Larissa Caser 1 min. read

Milan’s FTSE MIB closer 1% lower at 50,506 on Thursday, reversing earlier gains as a selloff in chipmakers weighed on the benchmark.

STMicroelectronics and Technoprobe plunged 9.3%, while Prysmian dropped 4%, tracking losses among US chipmakers as investors reassessed the pace of the AI buildout following the US midterm elections.

A Democratic takeover could increase regulation on AI and data centers.

In turn, Stellantis declined 4.5%, as its extends the production stoppage at its Fiat 500 factory in Turin.

Defence stocks also extended their declines, tracking a sharp fall in Rheinmetall after the German firm cut its 2026 sales target for a second time.

Fincantieri dropped 4.8%, while Leonardo, which has projects with the German firm, fell 3.5% despite raising its 2026 outlook.

Avio lost 2.8%.

Weakness among heavyweight financials added to the pressure, with BPER Banca shedding 3%.

MPS, Mediobanca, Unicredit and Unipol all tumbled over 1%.



News Stream
The FTSE MIB Index Closes 1.03% Lower
The FTSE MIB Index dropped 525 points or 1.03 percent on Thursday to close at 50506 points. Losses were led by STMicroelectronics (-9.44%), Technoprobe (-8.75%) and Fincantieri (-4.65%).
2026-11-05
Italian Stocks Plunge Amid Tech Selloff
Milan’s FTSE MIB closer 1% lower at 50,506 on Thursday, reversing earlier gains as a selloff in chipmakers weighed on the benchmark. STMicroelectronics and Technoprobe plunged 9.3%, while Prysmian dropped 4%, tracking losses among US chipmakers as investors reassessed the pace of the AI buildout following the US midterm elections. A Democratic takeover could increase regulation on AI and data centers. In turn, Stellantis declined 4.5%, as its extends the production stoppage at its Fiat 500 factory in Turin. Defence stocks also extended their declines, tracking a sharp fall in Rheinmetall after the German firm cut its 2026 sales target for a second time. Fincantieri dropped 4.8%, while Leonardo, which has projects with the German firm, fell 3.5% despite raising its 2026 outlook. Avio lost 2.8%. Weakness among heavyweight financials added to the pressure, with BPER Banca shedding 3%. MPS, Mediobanca, Unicredit and Unipol all tumbled over 1%.
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