Stocks Slip, Bond Yields Bounce as Oil Fuels Inflation Angst

Read MoreHONG KONG-From Europe to Asia, shares fell and government bond yields rose on Wednesday as oil prices hit their highest in seven years, fuelling concerns about rising inflation. The Euro STOXX 600 fell 1.8 percent, denting gains made in its best day in 11 weeks on Tuesday, with tech stocks down more than 2 percent and Germany leading losses at 1.6 percent. The mood was set to hit Wall Street, where U.S. futures gauges pointed to losses of 0.9 percent-1.1 percent. Weighing on equity markets were oil prices hitting their highest since Nov. 2014, with investors anxious that spiralling energy costs could force central banks to raise rates more quickly to combat rising inflation. U.S. crude rose 0.4 percent to $79.22 a barrel, with Brent crude also climbing 0.4 percent to $82.87, close to a three-year top hit in the previous session. Concerns about energy supply and a decision on …