European shares bounce back as chip makers rally

European shares stages a modest rebound on Tuesday, led by chip-makers after confident outlook comments from STMicroelectronics raised optimism on the industry. “The markets are very extended and very nervous,” said Lee Robinson, founder of the hedge fund Altana Wealth. “The price action on a lot of assets has been violent. Could you see a 5-percent-down day on the FTSE or the Euro STOXX in the next four weeks? It’s not inconceivable.”

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