Global tech sector sell-off knocks back European shares

viernes 11 de abril de 2014 06:40 GYT

* FTSEurofirst 300 down 1.4 pct

* Tech the top sectoral faller, echoing U.S., Japan

* Volatility ticks up

* Russia tensions rumble on, crimping appetite (Adds quotes, detail, updates prices)

By Alistair Smout

LONDON, April 11 (Reuters) - European shares slid at the open on Friday to leave them set for their first weekly loss in a month, tracking steep falls in Asian and U.S. stocks as equities came under pressure globally.

Technology stocks led sectoral falls with a 2.6 percent decline, echoing moves in the United States, where the tech-heavy Nasdaq 100 posted its biggest drop in two and half years, while the Japanese Nikkei tumbled to six-month lows.

Volatility, which measures the price that investors are willing to pay to protect against future falls and thus is seen as a gauge of unease in the market, ticked up 8.2 percent, having fallen after dovish noises from the U.S. Federal Reserve temporarily stabilised markets on Wednesday.

The tech sector in Europe had rallied over 40 percent from the beginning of November 2012 to the start of April this year.   Continuación...