Home / World News / European shares plunge as investors assess Russia-Ukraine crisis

European shares plunge as investors assess Russia-Ukraine crisis

STOXX eyes lowest level in four months, tech stocks drop 2.5%; Valneva up on vaccine manufacturing grant in Scotland

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3 min read Last Updated : Feb 21 2022 | 8:15 PM IST

European shares performed a U-turn on Monday, with auto and technology stocks leading the losses after comments from the Kremlin quelled hopes of a resolution to Europe's biggest military crisis in decades.

The pan-European STOXX 600 slid 1.4% to its lowest level since October after gaining in early trade.

Technology stocks shed 2.5% to mark their fourth straight day of losses. The sector, along with the European benchmark, has spent seven of eight weeks in negative territory so far this year.

The Kremlin on Monday said there were no concrete plans for a summit over Ukraine between Russian President Vladimir Putin and his

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