World stocks were set to post their first loss in five days on Monday, breaking a winning streak that saw them recover almost half their losses.
Asian stocks slipped on Tuesday, while the dollar edged further away from three-year lows.
World stock markets nosedived for a fourth day running on Tuesday, having seen $4 trillion wiped off from what just eight days ago had been record high values.
European shares fell to their lowest level since August 2017 on Tuesday as a global sell-off in equities deepened and volatility spiked on growing worries over inflation and rising bond yields.
European stocks, propelled by a weaker euro, were heading for their best monthly gains this year on Friday.
European shares fell on Tuesday following disappointing results from bluechips Ericsson and Lufthansa.