Inflation Worries Push European Stocks Lower

European stocks fell from their peak on Tuesday, and technology, travel and mining stocks were among the biggest losers after concerns about high inflation in the United States drove US indexes down.

The pan-European STOXX 600 index fell 1.6% after hitting a record high on Monday.

Sentiment deteriorated globally after worries about inflation prompted investors to turn away from growth-related stocks on Wall Street yesterday, ahead of the release of US consumer price data that many fear will cause the Federal Reserve to reconsider its stance on monetary policy.

Technology stocks tumbled 2.2% to the lowest level since late March, while mining stocks gave up part of the strong gains they had made in the previous session.

Travel and leisure shares fell 3.7%, and Swedish Evolution Gaming Group plunged 9.6% after pricing huge deals were announced.