- US and European equity futures fell on Tuesday, while Asian shares fell in some markets, indicating that more pain is on the way after global stocks fell by a fifth last year.
- Contracts for the euro Stoxx 50 fell more than 1%, dimming the index's 1.7% gain on Monday. The S&P 500 contract also fell after initially rising early Tuesday. South Korean and Australian stocks both fell more than 1%.
- Stocks are under pressure as a result of last year's sharp swings, which saw global equities lose 20% of their value, the worst run since the financial crisis. Bonds lost 16% of their value, the most since at least 1990 for one leading indicator, as central banks raised interest rates to slow inflation.
- The yen gained up to 0.8% against the dollar, reaching its highest level since June. The Japanese yen rose against all of the G-10 currencies, particularly commodity currencies such as Australia, New Zealand, and Canada. The advance follows the Bank of Japan's sustained efforts to reduce government debt yields, with the stronger yen indicating that traders believe the central bank will be forced to reduce its easy policy settings.
