European Stocks Sink Amid Tech and Tariff Turbulence

European stocks hit a nearly month-low with tech shares dropping sharply due to continued tariff uncertainty. The STOXX 600 index fell after a lengthy win streak, while the Nasdaq saw significant losses. Economic concerns in the U.S. weighed heavily on global investors, driving a risk-off sentiment.

European shares experienced a notable decline on Monday, reaching their lowest point in nearly a month. The drop was primarily due to significant sell-offs in technology stocks, as investors around the globe remained wary of ongoing uncertainties surrounding U.S. tariffs.

The pan-European STOXX 600 index fell 1.3%, breaching its 10-week winning streak seen the previous Friday. Technology stocks, in particular, took the hardest hit, falling 3.1% to their lowest since January's end. The rapid changes in U.S. trade policies and mounting growth concerns in the U.S. economy are fueling a global risk-off approach among investors.

In the U.S., the tech-heavy Nasdaq slid 4% to draw close to a six-month low. Steve Sosnick, Interactive Brokers' chief market analyst, stated that tech stocks are particularly vulnerable when investors decide to de-risk or take profits. Meanwhile, other sectors like banks and industrial goods also faced declines. Despite these challenges, sectors such as utilities and automobile parts showed resilience, managing to eke out gains amidst the broader market slump.

(With inputs from agencies.)