Major European stock benchmarks closed higher Friday as the outcome of the U.K.'s general election, which left the British government with a hung parliament, sparked expectations that the country will seek a softer version of its exit from the European Union.

The Dow closed at a record on Friday even as the Nasdaq skidded nearly 2% as the technology sector abruptly fell in afternoon trade. The Nasdaq's retreat comes on the heels of an early record and marked the biggest one-day decline for the Nasdaq since May 17, when it tumbled more than 2.5%.

The selloff in technology stocks continued on Monday, with Asian markets following the declines in U.S. tech heavyweights Friday after months of sharp gains.