The Deal: European, Asian Stocks Follow Wall Street's Lead Lower

LONDON (The Deal) -- European and Asian markets headed down Monday, taking a lead from Wall's Street's reversal Friday and renewed geopolitical tensions in Ukraine. Moscow's Micex Composite fell over 1.6% to 1,359.83 by the end of the morning. But markets were trailing across Western Europe too, with Frankfurt, Paris, Madrid and London all in negative territory.

A key question following Nasdaq's hiccup at the end of the week: Are tech stocks overvalued? In London, U.K. chip designer ARM Holdings ARMH sank 2.3% to 973 pence, while in Frankfurt its German rival Infineon was the biggest faller in the blue-chip DAX index, down 2.2% at 8.55 euros a share.

London was down 0.35% mid-morning, at 6,672, while the DAX, more sensitive to events in Ukraine, was down 1.04% at 9,594.

But it wasn't all doom and gloom. In Paris, media group Vivendi made a 1.3% gain after deciding to sell its wireless services unit SFR to preferred bidders Numericable and its backer, Altice, for $23.3 billion. That decision was announced at the weekend after Vivendi shunned a string of alternatives presented by telecom and construction conglomerate Bouygues. Numericable, a cable TV provider, soared over 13.8% to 30.09 euros, despite announcing that it will fund part of the price with $6.44 billion rights issue to existing shareholders.

Numericable's controlling shareholder, cable investor Altice, has agreed to buy the 34.6% stake in Numericable held by the company's British and American private-equity backers, Cinven and Carlyle Group, taking its stake to 74.6%.  It's paying in cash and shares, so Carlyle and Cinven will end up with a stake in Amsterdam-listed Altice. Altice was also up 9% at 32.70 euros.

In Paris, the CAC 40 was down 0.53% at 4,461.

Over in East Asia, doubts about technology and social media stocks also weighed on the markets. Hong Kong was down 0.59% at 22,377.15, while Japan's Nikke i225 closed down 1.69% at 14,808.85. Chinese markets were closed for a public holiday.

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists