European shares dropped on Monday, hit by concern over the pace of global growth after data showed Japan, the world's third-largest economy, unexpectedly slipped into recession, Reuters reported. At 0853 GMT, the FTSEurofirst 300 index of top European shares was down 0.4 percent at 1,339.92 points. Japan's economy shrank an annualised 1.6 percent in July-September, following a 7.3 percent drop in the second quarter in the wake of a sales tax hike that clobbered consumer spending. Tokyo's Nikkei index tumbled 3 percent, its biggest one-day slump since August. The FTSEurofirst 300 index of top European shares is up 1.8 percent so far in 2014, falling behind a 10 percent rally for Wall Street's S&P 500 over the same period.
