Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week.
As they wrapped up a summit in Elmau, Germany, Group of Seven leaders were finalizing a deal to seek a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions.
"Investors and traders are worried about the soaring inflation situation and weak economic growth, and these two factors continue to flash red signs on their trading dashboards," Naeem Aslam of Avatrade.com said in a commentary. "The question that traders are asking is if the bear market rally is over."Germany's DAX added 0.9% to 13,306.38 while the CAC 40 in Paris advanced 1.4% to 6,132.32. Britain's FTSE 100 gained 1.1% to 7,337.96.
Chinese shares have gotten a boost from the easing of pandemic restrictions as the country's latest wave of outbreaks abates. Treasury yields has resumed their rise. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.22% early Tuesday from 3.20% late Monday.
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