Global stocks slid, with European shares set for a weak open on Wednesday as worries over U.S. inflation resurfaced and bond yields spiked, boosting the dollar and keeping the yen, yuan and euro near multi-month lows.

Asian markets fell Thursday after a tepid lead from Wall Street, with investors increasingly worried about the outlook for inflation and US interest rates as Donald Trump's second presidency looms.

Most Asian stocks declined Thursday amid concerns over slower U.S. interest rate cuts and weak Chinese inflation data signaling economic challenges. Regional markets mirrored a muted Wall Street session,