LIVE MARKETS-European stocks battered as spectre of inflation returns

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EUROPEAN STOCKS BATTERED AS SPECTRE OF INFLATION RETURNS

European stocks are falling hard for a second day on Tuesday on worries that surging oil and gas prices due to Middle East supply disruptions could cause another inflationary shock.

Energy prices have surged. Brent crude futures LCOc1 trade above $81 per barrel and benchmark European gas TRNLTTFMc1 is up about 25% to its highest in over a year.

That has stoked worries about inflation at a time when Europe's central banks looked to have price rises under control following the post-COVID spike.

The pan-continental STOXX 600 .STOXX is down 2.5% in early trade after sliding 1.7% the day before.

There is little place to shelter anywhere with all the major sectors in the red. Breadth is overwhelmingly negative with declining stocks outnumbering advancing stocks by about 25 to 1.

Here's your opening snapshot:

(Samuel Indyk)

EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: FUTURES SLIDE FURTHER CLICK HERE

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