Global Markets Tumble as Asian Stocks Dip and Central Banks Struggle

Asian and European equity futures fell, while Treasury yields and the dollar rose, indicating that investors are still adjusting their interest rate expectations. US equity futures also declined, erasing Monday's gains on Wall Street. Chinese property concerns weighed on markets, with Hong Kong's Hang Seng Index falling to November levels. The MSCI All Country World Index is on track for its longest losing streak in a decade. Treasury yields continued to climb, reaching a 16-year high, and the dollar held its gains. Crude prices fell for a second session, and there are concerns that rising oil prices could fuel inflation. Federal Reserve officials have indicated the possibility of further interest rate increases this year.