• On Tuesday, a global stock selloff resumed in Asia, on concerns that rising prices for raw resources such as crude oil will drive inflation and stifle economic growth.
  • MSCI’s Asia-pacific share index declined about 1.5%. Japan tumbled, taking the slide in the Nikkei 225 since a September peak to more than 10%. a hong kong gauge of Chinese technology stocks slid and South Korea headed for a correction.
  • The S&P 500 fell to its lowest level since July, while the NASDAQ 100 fell nearly 2%, dragged down by mega-cap tech corporations like Amazon and Facebook. The energy sector was one of the few sectors to advance in both the US and Asian sessions.
  • US 10-year Treasury yields were unchanged, while the dollar recovered from an overnight dip. Following OPEC+'s decision to maintain a moderate supply raise even as a natural-gas crisis boosts crude demand, oil has stabilized near its highest level since 2014.
  • Traders are nonetheless concerned about China's indebted property industry. Following industrial major China Evergrande's debt troubles, Fantasia failed to repay a $205.7 million bond that was due on Monday, adding to the strains on the nation's heavily leveraged property giants. Chinese markets will resume on Friday after a holiday break.
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