MSCI's all-country world index, which looks at stock market performance across 49 countries, fell 0.85%, also pulled down by the big U.S. tech names. In Europe, the broad STOXX 600 index closed down 0.44%, falling to its lowest in 10 days. Germany's DAX fell 0.31%, France's CAC 40 slid 0.11% and Britain's FTSE 100 lost 0.18%. On Wall Street, the Dow Jones Industrial Average rose 0.09%, eking a small gain. The S&P 500 lost 0.77% and the Nasdaq Composite dropped 2.46%.
NEW YORK: Global stock markets fell on Monday as expectations of faster growth and quickening inflation battered bonds, boosted commodities and led to a further rotation out of the big tech names that have driven the equity rally during the pandemic.
Gold rose more than 1% and copper prices shot above $9,000 a tonne for the first time since 2011 on the prospect for inflation and growth, while the dollar slumped to multi-year lows against the British pound and the Australian dollar.
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