Dip buyers returned to technology stocks in Europe and the United States, thinking that the selloff had gone too far. Facing a supply shortage, energy contracts continued to rise.

The Nasdaq 100 index's December futures gained 0.4% after the digital-heavy index fell to its lowest level since June on Monday. For the first time in eight days, the technology component of Europe's benchmark Stoxx 600 gained. European natural-gas futures soared by as much as 16 percent, while West Texas Intermediate crude oil climbed to a seven-year high.

A rising wall of concern in global markets has broken the calm, encompassing China's debt problem, increased inflation due to commodities supply shocks, fading economic growth, and US political squabbling. The volatility comes as markets anticipate the Federal Reserve's withdrawal of support.

Today, European natural gas contracts hit an all-time high of €111.70 per megawatt-hour, up from €15.49 in February. The continent is preparing for a winter energy shortage, with front-month power contracts in Germany reaching new highs.

European markets rose, with banks and technology companies leading the charge. After receiving regulatory permission to increase its investment in Delivery Hero, Prosus climbed as much as 2.9%.