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Inflation nerves hit European stocks; Evolution Gaming tumbles

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European tech shares tumbled 2.2 per cent to their lowest level since late March, while miners handed back some of their strong gains in the previous session.
European stocks retreated from all-time highs on Tuesday, with shares of technology, travel and mining companies among the top losers after worries about rising U.S. inflation knocked back U.S. indexes.

The pan-European STOXX 600 index fell 1.6 per cent after it hit a record closing high on Tuesday. The main bourses in Frankfurt, Paris and London all lost more than 1.5 per cent.

Global sentiment soured after inflation jitters drove investors away from Wall Street’s market-leading growth stocks on Monday ahead of the latest reading on U.S. consumer prices, which many fear could prompt the Federal Reserve to rethink its monetary policy stance.

European tech shares tumbled 2.2 per cent to their lowest level since late March, while miners handed back some of their strong gains in the previous session.

Travel and leisure stocks slumped 3.7 per cent as Sweden’s Evolution Gaming Group tumbled 9.6 per cent after the bookrunner announced the pricing of block trades.

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