The Stock Market Is So Volatile That One European Tech Firm Has Cancelled Its IPO

, ranking among the worst debuts ever in the London market, both firms achieved multibillion-dollar valuations.

Investors have soured on tech stocks recently amid jitters over the path for central banks' monetary policies. The Federal Reserve and Bank of England have both signaled they plan to tighten policy in response to sky-high inflation. That's led to a rout in major tech shares, with theIt could be a sign of things to come for Europe's tech sector, which attracted a record $121 billion in venture capital funding last year, according to data from Atomico.

The region now has more billion-dollar unicorn start-ups than ever and is home to some of the world's most valuable private tech companies, such as Klarna, Checkout.com and Revolut. But some investors worry the boom times could come to a halt as central banks start to hike interest rates, tightening liquidity.at its upcoming March meeting. Europe's tech sector sank about 1.6% in Thursday's trading session as investors reacted to the news.

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