LONDON—Shares slid worldwide on Tuesday as fears about weak earnings and slowing growth punctured the recent mini-rally, while hawkish remarks from European Central Bank Chief Christine Lagarde reminded edgy markets that rate hikes loom.
Nasdaq futures lost 2.06 percent, with traders blaming an earnings warning from Snap which saw shares in the Snapchat owner tumble 28 percent, while S&P 500 futures slipped 1.47 percent.
That followed a 1.4 percent fall in MSCI’s broadest index of Asia-Pacific shares outside Japan, while the benchmark STOXX index of European shares fell 1.1 percent.
All major sectors fell, with utilities and commodity-linked stocks leading declines, as investors awaited May Purchasing Managers Index data due in the morning session for clues about the slowing economy….