European tech and semiconductor stocks declined on Monday due to U.S. recession concerns.

European tech and semiconductor stocks declined on Monday due to U.S. recession concerns, leading to a sell-off of top-performing stocks and a shift towards safe assets. The STOXX tech index fell by 4.1%, making it the worst-performing sector on the STOXX 600, which decreased by 3%. Investors reassessed their investments in technology stocks, opting for safer assets.