LONDON—A selloff in global stocks extended into Tuesday on signs that soaring energy prices had put a dampener on economic growth, while inflation and policy-tightening fears sent short-dated U.S. Treasury yields to 18-month highs. Oil prices rose further, with Brent crude at almost $89 a barrel. Coal has scaled record peaks and, while gas prices are off recent highs, they remain four times higher in Europe than at the start of the year. The impact of supply crunches in power and manufacturing components is showing up in data—on Tuesday, data showed Japanese wholesale inflation hit 13-year highs last month, UK shoppers slashed spending and China recorded a 20 percent drop in car sales. With the U.S. earnings season kicking off in earnest this week, investors will want to gauge the impact of inflation on companies’ bottom line. While the prospect of weaker economic growth sent stocks lower, inflation fears and …