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The pan-European STOXX 600 fell 0.4% in early trading, after a four-session winning streak drove the index to pre-pandemic highs a day earlier.
With the 10-year U.S. Treasury yield back above 1.6%, investors booked some profits, especially in the tech sector, which was down 1.4%.
Dutch company Prosus (OTC:PROSF), which holds a third of Chinese tech giant Tencent Holdings (OTC:TCEHY), dropped 4.8% as the Chinese market regulator fined 12 companies including Tencent related to deals that demonstrated illegal monopolistic behaviours.
German carmaker Daimler (OTC:DDAIF) slipped 2.0% after French rival Renault (PA:RENA) sold its entire stake in the company at a discount.
British luxury group Burberry jumped 7.2% to the top of STOXX 600 after saying it had seen a strong rebound in sales since December.
