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European stocks snapped a 10-day winning streak Monday, as investors reacted to weaker-than-anticipated economic data and rising geopolitical tensions.

The pan-European Stoxx 600 closed down 0.5%, with almost all sectors and major bourses in negative territory. Retail shares led the losses, falling 2.5%.

Meanwhile, market participants closely monitored the potential geopolitical implications of the sudden collapse of the Afghanistan government. Taliban insurgents over the weekend pushed their frontlines into the capital city of Kabul after a succession of shocking battlefield reversals, spurred by the exodus of U.S. and coalition forces.

It marks a stunning end to the two-decade Western campaign in which the U.S. and its allies sought to transform the country.

European stocks had closed out a tenth consecutive positive trading session on Friday, shortly after MSCI’s aggregate gauge of global stock markets hit a new record high. Stocks on Wall Street also notched record highs last week even as concerns over the highly transmissible delta Covid variant persisted.