U.S. Treasury yields jump ahead of inflation data that could prompt the Federal Reserve to tighten policy enough to slow a rebounding economy. The euro rose against the dollar to snap a seven-day losing streak as the single currency rallied after French leader Emmanuel Macron beat far-right challenger Marine Le Pen.

The yield on the 10-year treasury rose to 2.793%, the highest level since January 2009. The yield is now above the 2.5% mark set in December 2008. The rise in the yield is the highest since December 2008, when the U.S. Federal Reserve raised the rate to 2%.

"The market has appropriately priced it in," Mullarkey said. Economists polled by Reuters forecast the U.S. consumer price index (CPI) on Tuesday would post an 8.4% year-over-year increase in March. Separately, they also saw the probability of a recession next year at 40%.

Technology shares, which have been underpinned by record low interest rates, fell 2% in Europe and 2.6% on Wall Street. MSCI's gauge of stocks across the globe closed down 1.33% and the pan-European STOXX 600 index slid 0.59%. All 11 S&P 500 sectors fell.
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