European shares see red as rate-sensitive sectors slide

LONDON, June 29 (Reuters) – A sharp turn lower across risky
assets just ahead of the open on Wall Street put European shares
on course for their worst day since last September, with tech
and sectors most sensitive to higher interest rates the biggest
drags.

The STOXX 600 index was down 1.2 percent to a
2-month low. Euro zone blue chips fell 1.5 percent.

Traditionally defensive, dividend-paying sectors such as
personal and household goods, health care and
food and beverages were among the biggest fallers.

A slew of hawkish comments from global central banks has
spurred a rally in bond yields and sent the euro to its highest
in more than a year.

Tech stocks, the top performing sector this year,
came under pressure, down 2.3 percent, mirroring losses among
U.S. peers.

Banks and oil-related shares were the only two sectors in
green.
(Reporting by Kit Rees, Editing by Vikram Subhedar)


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