European shares fell to year lows today as technology companies were pulled lower by cautious guidance from top US Internet equipment maker Cisco Systems and high crude oil prices cast a pall over investor sentiment.
By this afternoon, the FTSE Eurotop 300 index was down 1.1 per cent at 942.52 points, its lowest level this year, with nearly four stocks falling for each that rose in relatively light trading volume.
The DJ Euro Stoxx 50 index fell 1.4 per cent to 2,582.75 points.
Nearly every industry sector was down, with tech stocks, car makers and insurers leading the way as investors digest gloomy guidance from a range of companies, fearing the best numbers were now behind them.
Benchmark US light crude prices remained just a whisker away from record highs of above $45 a barrel hit earlier this week.
