SYDNEY/LONDON—Shares slid on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season in which profits will be under pressure.
The STOXX index of European shares fell 1.3 percent, with S&P 500 futures down 0.8 percent and Nasdaq futures off 0.9 percent as an upbeat U.S. June payrolls report raised expectations of a 75 basis point hike from the Federal Reserve.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.8 percent, while Chinese blue chips lost 1.9 percent after Shanghai discovered a COVID-19 case involving a new subvariant, Omicron BA.5.2.1….