As concerns about tighter monetary policy and geopolitical unrest rocked risk sentiment, European markets gave up earlier gains to end lower on Thursday, with oil and technology sectors sliding the most.

The STOXX 600 index lost 0.7 per cent more as it closed, extending its own streak to three sessions. Energy shares fell 2.1 per cent as a result of a decline in crude prices caused by concerns about demand.

The STOXX 600’s biggest laggards were technology stocks, which saw a 1.8 per cent decline. In an environment with high-interest rates, the sector often underperforms because of worries about pressure on future earnings.

The case for a hawkish Federal Reserve has been further supported by a plethora of American data this week. While the European Central Bank increased by that much this month and hinted that there might be more increases to come, the Fed is expected to deliver its third 75-basis-point hike the following week.