GLOBAL MARKETS-Stocks slide as oil surge kindles inflation fears

The Dow Jones Industrial Average .DJI fell 0.29%, the S&P 500 .SPX lost 0.53% and the Nasdaq Composite .IXIC dropped 1.56%. In Europe, the pan-regional STOXX 600 index .STOXX slid 2.01%, while MSCI's gauge of stocks across the globe .MIWD00000PUS closed down 0.61%.entrance

NEW YORK: Oil prices initially soared on Thursday as the Ukraine war sparked a run on commodities that raised fears of "stagflation," while equity markets fell as investors gauge the impact of the Federal Reserve's plans to tighten monetary policy.

The fresh surge in energy prices heightened worries about the European economic outlook, leading the euro to slide to its lowest level in almost six years against Britain's pound and pinning it near 21-month lows versus the dollar.