Stoxx Europe 600 was down 0.7%, after gaining 3% last week. There were a number of factors contributing to the negative tone. The yield on the benchmark 10-year Treasury has backed up, with Federal Reserve officials beginning to speculate about tapering the rate of bond purchases in anticipation that fiscal stimulus will bolster the U.S. economy. Federal Reserve Vice Chair Richard Clarida on Friday said he expected the central bank to keep bond purchases steady through the year. “Rising U.S. bond yields are again being named as the chief culprit [for declining risk appetite], plus a possibly overstretched risk rally,” said Alvin Tan, Asian currency strategist at RBC Capital Markets.