Tech and health-care sectors were among the worst performers in European equities, while the region's bonds also fell. Adidas AG slumped as it warned of losses after ending ties with rapper Ye. Contracts on U.S. gauges also fell, with Lyft Inc. tumbling in premarket trading after its outlook disappointed analysts.
U.S. Treasuries extended losses after investors pushed yields on the two-year Treasury above the 10-year's by the most since the early 1980s, a sign of flagging confidence in the economy's ability to withstand additional Federal Reserve hikes. Next week's inflation update from the U.S. offers a relevant potential inflection point in the Treasury yield curve, according to Benjamin Jeffery and Ian Lyngen, strategists at BMO Capital Markets Corp.
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