Live Markets: Drinks and drugs offer shelter as STOXX drops 1%

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Today 09:24

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STOXX 600 down 1.2%
Tech, miners lead losses
Defensives outperform
Heineken names new CEO
Wall St futures fall 
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DRINKS AND DRUGS OFFER SHELTER AS STOXX DROPS 1%
European shares have fallen sharply on Tuesday as profit taking in global tech hits chipmakers and other high-flying AI plays, while rising bets on further Federal Reserve tightening weigh on metal prices and push miners lower.
The region-wide STOXX 600 .STOXX is down more than 1%, on track for its biggest daily drop in over a week, though it remains close to the record high hit earlier this month.
The tech selloff is sapping risk appetite and has spreads across most sectors, with nearly 80% of STOXX constituents in the red. Healthcare, up 0.9%, and food and drink stocks outperform as investors shift into traditional defensive names.
HeinekenHEIO.AS is among the top gainers, up 3% after picking an outsider as new CEO. Elsewhere in defensives, Roche ROPC.S, Novo NOVOb.CO, AB Inbev ABI.BR, BATs BATS.L and Nestle NESN.S rise around 1-2%. 

(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: TECH SELLOFF TO DRAG EUROPE LOWER CLICK HERE
YEN ZOOMS INTO TROUBLE CLICK HERE