The stock market was on a downward trend following rising crude oil prices which continued to raise concerns over inflation even as bond yields fell slightly from a multi -year high.
The Dow Jones Industrial average was down 0.96%, the S&P 500 was down 0.97%and the Nasdaq Composite was down 1.15%.
The Nasdaq has entered a price correction phase since closing lower above 10% from a record high close on Nov. 19 as investors continued to worry about a faster interest rate hike by the Federal Reserve (Fed) that has led to its sell -off.
The STOXX 600 European broad index was up 0.23% but the MSCI worldwide broad index fell 0.75% on the Wall Street selling session.
The MSCI Asia-Pacific broad index outside Japan fell 0.4% as tech stocks suffered losses in Europe and Wall Street.
Australia's major stock indexes fell 1% while Japan's Nikkei plunged to a 3 -month low on concerns over new restrictions on business to curb coronavirus cases.
U.S. treasury yields hit a 2-year high of 1.047% or a 7 basis point increase while German 10-year yields broke positive territory for the first time since May 2019 as investors hoped policymakers would curb years of stimulus to fight inflation.
The dollar index fell 0.14% at 95,579 while the Euro was up 0.16% at US $ 1.1343 and the Japanese Yen was down 0.29% at US $ 114.2800.
Brent oil futures rose 93 cents at US $ 88.44 a barrel while US crude oil futures added US $ 1.53 at US $ 86.96 a barrel.
US gold futures rose 1.7% to US $ 1,843.20 an ounce.
