"Markets Tumble as China Concerns and US Inflation Take Center Stage"

Asian stocks fell as concerns over China's deflation and a US ban on investments in sensitive technologies weighed on sentiment. Investors are awaiting a crucial US inflation report that will likely influence the Federal Reserve's policy path. European stocks, however, are expected to open higher. Chinese data showing deflation at the consumer-price level and declining factory-gate prices added to concerns about the post-pandemic recovery. President Biden signed an executive order prohibiting some new US investment in China's tech sector. Bond strategists expect US Treasury yields to fall in the coming months. Oil prices eased as higher US crude inventory and sluggish economic data from China raised concerns about global fuel demand.