Sharp decline in European shares amid attempts to curb inflation

European shares fell sharply on Monday, while bond yields rose after comments from monetary policymakers raised fears of violent measures to curb inflation amid rising recession risks.

The pan-European Stoxx 600 index fell 0.8 percent to its lowest level in more than a month, with technology shares falling the most, dropping 1.4 percent. German 10-year bonds jumped 10 basis points to a two-month high.

European Central Bank Governing Council member Isabel Schnabel said on Saturday that central banks should step in to fight inflation, even if it pushes their economies into recession.

This followed a warning from Federal Reserve Chairman Jerome Powell on Friday that the bank would raise interest rates as high as necessary to restrain growth.