Tech stocks drag European shares from multi-year highs

London - European shares retreated further from 7-1/2-year highs hit last week, led lower by weaker technology stocks that slid on the back of a sell-off in their US peers.

The STOXX Europe 600 Technology Index fell 2.9%, with traders citing concerns over weak computer sales weighing on the US technology sector.

British chipmaker ARM fell 5.9% while Dutch semiconductor company ASML declined by 5.2%.