Some of Europe’s largest technology funds are nursing losses of more than 30% this year, as a brutal sell-off across the sector drags down behemoths managed by the likes of BlackRock, Franklin Templeton and Polar Capital.

The world's biggest technology companies were riding high during the Covid pandemic, but have now shed hundreds of billions of dollars in value over the past week, as interest rate hikes by the Federal Reserve, higher inflation, and concerns over global growth spook investors.