Wall Street stocks were set to join Tuesday’s global equities slide, with technology shares sustaining a fresh blow from concerns that rising inflation will prompt central banks to tighten monetary policy.

Europe’s Stoxx 600 index fell 2.3 per cent, with markets in Germany and France down by a similar margin. London’s FTSE 100 dropped 2.4 per cent. Futures trading indicated that an index of the 100 biggest stocks on the tech-heavy Nasdaq Composite will lose 1.4 per cent at the opening bell in New York after ending Monday’s session 2.6 per cent lower.

Technology shares endured the heaviest selling in Europe on Tuesday, with the Stoxx 600 tech index sliding 2.3 per cent. Every other major industry group was also lower on the day, according to Refinitiv data.