GLOBAL MARKETS-Stocks extend decline as inflation fears persist

MSCI's gauge of stocks across the globe shed 0.62%.The Dow Jones Industrial Average fell 547.39 points, or 1.59%, to 33,843.33; the S&P 500 lost 52.02 points, or 1.19%, at 4,307.44; and the Nasdaq Composite dropped 63.86 points, or 0.44%, to 14,448.58.

NEW YORK: Global stock markets continued to fall Thursday as inflation fears persisted and expectations grew that the U.S. Federal Reserve would tighten policy in the coming months.

Earlier in the week, global shares suffered their worst rout since January. A heavy tech sell-off on Tuesday led Wall Street to its steepest drop since mid-July.