Stocks and U.S. equity futures fell Monday and Treasuries edged up on concerns about the possible economic fallout of Covid-19 outbreaks and elevated inflation. Oil slipped after an OPEC+ supply deal.
MSCI Inc.’s gauge of Asia-Pacific shares hit the lowest in about a week, with Japan and Hong Kong underperforming and technology stocks struggling. European, S&P 500 and Nasdaq 100 futures dropped after the S&P 500 pulled back for the first week in four.
The rally in Treasuries continued, sending 10-year yields further below 1.3%. The yen and the dollar ticked up amid cautious sentiment. Oil slid after an OPEC+ agreement to boost output into 2022 resolved a bitter internal spat.
A global rally in equities has paused as investors consider whether price pressures will sap the economic rebound from the pandemic, in part by leading central banks to pare monetary policy support. Investors are also trying to make sense of the decline in Treasury yields.
