Alibaba investors can expect to see some support at $100, but that would be short-term in nature unless additional stimulus is announced quickly by the Chinese central bank. Shares of Alibaba have been in a long-term bear market trend since May of 2021 and maintain a short-term price target of $85.

ASML followed up those grim headline numbers with a disappointing near-term outlook. It expects revenues to rise 22% to 28% year over year in the fourth quarter, but to only rise about 1% to 28 billion euros ($30.

STORY: Semiconductor stocks recovered some ground on Wednesday, after a downbeat forecast from chip equipment maker ASML sparked a global tech selloff.Europe's biggest tech company, which supplies machines that make semiconductor chips,