A technology-led selloff that started on Wall Street snowballed in Asia and Europe Tuesday as worries over inflation pushed investors to dump expensive stocks. The dollar and Treasuries were steady.
The benchmark for European stocks tumbled the most in three weeks, while the tech-heavy Nasdaq 100 Index futures extended a slump that sent the underlying gauge down 2.6% on Monday. S&P 500 contracts fell in sympathy after the index retreated from an all-time high. MSCI Inc.’s Asia-Pacific share index fell the most since March.
Debate continues over whether the expected jump in price pressures will be enduring enough to force the Federal Reserve into tightening policy sooner than current guidance suggests. A measure of U.S. inflation expectations reached the highest level since 2006, data on Monday showed.
