European stock indexes eased from their records on Monday as amid losses for consumer staple companies and pharmaceutical giants.
The Euro STOXX 50 dropped 0.2% to 6,398 and the STOXX Europe 600 fell 0.4% to 650.
Anheuser Busch InBev sank 4% and L'Oreal dropped over 1% to set the pace for consumer defensive stocks, while Inditex dropped more than 2% and both LVMH and Hermes pulled back 1% on a weak session for discretionary goods.
Sovereign yields in the Eurozone rose further amid a curve steepening session as markets priced a hawkish ECB, despite recent signs that inflation may have topped in the currency bloc.
On the other hand, banks closed higher with Deutsche Bank, ING, and Intesa Sanpaolo adding more than 1%.
Also, Rheinmetall added 3.5% on a strong session for the defense sector.