European stocks slump on tech fears

LONDON: European stocks slumped Monday, after heavy losses elsewhere, as investors fretted over the global technology sector, the US interest rate outlook and fresh unrest in Ukraine, dealers said.
London's FTSE 100 dropped 1.09 per cent to 6,622.84 points, while in Paris the CAC 40 fell 1.08 per cent to 4,436.08 points, and the DAX 30 in Frankfurt shed 1.91 per cent to 9,510.85 points.
"The week has started firmly in the red, with UK and European markets following the lead set by Asia," said IG analyst Chris Beauchamp.
The ruble slid 1.0 percent to 35.63 to the dollar and by 1.45 percent to 48.94 to the euro, still below the record lows hit after Russia occupied and annexed Crimea.
Wall Street had tumbled on Friday on growing worries that the technology sector was overvalued, dealers said, with the tech-heavy Nasdaq Composite Index slumping 2.60 percent in value.
Meanwhile:US stocks fell further Monday, with the Dow Jones Industrial Average sliding 0.71 percent to 16,296.31 points in midday trading.
The broad-based S&P 500 shed 0.79 per cent to 1,850.36, while the Nasdaq Composite Index declined 0.94 per cent to 4,089.07.
Asian equities mostly retreated on Monday, taking their lead from Friday's heavy sell-off in New York.
Hong Kong declined 0.59 per cent, Tokyo stocks fell 1.69 percent and Sydney shed 0.17 percent, while Shanghai and Bangkok were closed for public holidays.
In foreign exchange deals, the euro rose to $1.3745 from $1.3701 late on Friday in New York. The dollar stood at 103.08 yen from 103.25 on Friday.
The European single currency advanced to 82.76 British pence from 82.69 pence, while the pound climbed to $1.6607 from $1.6567.
On the London Bullion Market, the price of gold firmed to $1,299 an ounce from $1,297.25  Friday.