LONDON—Global equities slipped and bond yields hit multi-year highs on Tuesday after consumer prices hit a record in France and accelerated in Spain, adding to expectations that major central banks will need to continue tightening policy.
France’s European Union-harmonised consumer prices rose to a record 7.2 percent in February while Spain’s EU-harmonised 12-month inflation was 6.1 percent, up from 5.9 percent in January and above the 5.5 percent expectation from analysts polled by Reuters.
The pan-European STOXX 600 index dropped 0.4 percent, although is still on track for a 1.7 percent gain this month, its fourth positive month in five.
MSCI’s All-World index of global shares fell 0.1 percent, close to its lowest in almost seven weeks reached on Friday….