Stocks Slump as Snap Cracks Rally, Lagarde Lifts Euro

Stocks Slump as Snap Cracks Rally, Lagarde Lifts Euro
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, on March 11, 2022. Staff/Reuters
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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.