Oil Prices Weigh on Global Markets Despite Strong Earnings

Global shares declined on Tuesday due to rising oil prices and concerns about inflation, outweighing the positive impact from strong corporate earnings reports.

The CAC 40 in France slipped 0.5%, while the DAX in Germany fell by the same margin.

In Asia, Japan's benchmark Nikkei 225 sank 2.5% to finish at 67,460.73, with South Korea's Kospi losing 1.6% to 6,869.83.

Analysts pointed out that robust earnings reports in Asia and the US have helped counter worries about the global flow of crude oil and its impact on energy prices.

Japan imports almost all its oil, making it vulnerable to price fluctuations.