Stock markets drop as inflation risks prompt investor concerns – as it happened
Rolling live coverage of business, economics and financial markets as share prices fall across Europe
- UK stocks and US futures drop as investors eye inflation risks
- German business confidence rises faster than expected
- Boeing grounds some 777 planes after engine failure
- Rio Tinto ex-boss received pay rise despite scandal
3.00pm GMT
Stock markets have started the week firmly on the back foot, as signs of heating up in economies across the world raise the double-edged prospect of inflationary pressures building.
Some people might argue that a burst of inflation might be welcome - at least temporarily - in some economies that have struggled for more than a decade to accelerate. However, if pressures do build too much central banks could be tempted to remove some stimulus. That concern has held back stocks across the world.
Markets are kicking off on a hesitant tone despite hopes for a positive reopening roadmap from Boris Johnson today. Rising inflation and Treasury yields are once again providing a cause for concern despite vaccination-led hopes of an economic resurgence.
European markets have kicked off the week on a somewhat unstable footing, with the fears over rising inflation and Treasury yields once again dampening sentiment on a day that had promised to be dominated by reopening hopes.
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2.34pm GMT
Wall Street has indeed dropped at the opening bell, joining a broad global stock selloff.
Here are the opening snaps via Reuters: