Global Stocks Plummet Amid Escalating Mideast Tensions and Soaring Energy Prices

Stock markets declined globally on Tuesday amid concerns over the escalating Middle East crisis and higher energy prices.

The US-Iran truce expired without a deal to reopen the Strait of Hormuz, fueling fears that inflation will rise due to increased oil costs.

US stock futures were lower in pre-market trading in New York, while European equities mostly fell around midday.

Neil Wilson, investor strategist at Saxo UK, warned that a sharp rise in government bond yields could pose a threat to equity valuations and make life more difficult for policymakers and nations with high debt levels.