Global markets tumbled Tuesday as a sharp energy price surge reignited inflation concerns, driving a broad selloff in equities and government bonds.
U.S. futures signaled deeper losses ahead. S&P 500 e-minis fell 1.4%, while Nasdaq futures dropped 1.8% after a volatile Wall Street session.
European markets also retreated sharply. The STOXX 600 slid as much as 3.6%, marking its steepest intraday decline since April.
Bond markets across the euro zone, Britain, and the United States weakened, reflecting fears that persistent inflation could force central banks toward a more hawkish stance.
Oil and gas prices surged amid escalating Middle East tensions. Brent crude climbed 8.9% to $84.64, extending weekly gains beyond 16%.
European LNG prices jumped 34%, following a 39% spike Monday, after Qatar halted LNG production, which accounts for roughly 20% of global supply.
Investors remain focused on the Strait of Hormuz closure and rising geopolitical risks, weighing whether the shock represents a temporary disruption or a prolonged inflationary threat.
The U.S. dollar hovered near a six-week high, Treasury yields climbed, and gold and Bitcoin fell, underscoring a market gripped by uncertainty.
