European stocks pull back from 11-month high on profit taking

European stocks fell on Tuesday, deepening losses for the second straight and pulled back from an 11-month high on profit-taking and investors' risk aversion after US stocks' rally halted.

The Stoxx Europe 600 index fell 0.2% as of 11:45 GMT, after it closed lower by 0.7% yesterday, on profit-taking from the highest since February 2020 at 411.92 points.

The pan European index opened lower today and pulled back further from its 11-month high with most of the major European markets and sectors seeing red.

The utilities sector saw the largest losses in Europe, with a drop of more than 1.1%, after the shares of most major companies in the sector dropped.

S&P 500 futures fell 0.2%, after the index closed lower by 0.7% yesterday at Wall Street, on profit-taking from its record high of 3,826.69 points.

The market sentiment weakened due to the rising coronavirus cases in most parts of the world, in addition to the recent political tensions in the US.

This came after Democrats in the US House of Representatives proposed on Monday impeaching President Donald Trump after the Capitol siege events last week, which comes a few days before Trump's term ends on January 20.

Back to Europe, the Euro Stoxx 50 index fell 0.2%, France's CAC 40 fell 0.1%, the UK's FTSE 100 fell 0.7%, and Germany's DAX dropped 0.1%.