Central banks in Asia struggled to smother a selloff in global bonds on Friday (February 26), piling pressure on their bigger peers to do more.
That spooked investors who sold assets to cover deepening losses.
And rushed out of crowded positions in stocks.
European stocks fell on Friday (February 26) as investors booked profits in high-flying technology shares.
Concerns are growing over rising inflation and interest rates on the back of a jump in bond yields.
The benchmark European stock index was down over 1%.
And on track to record its first weekly fall this month.
While London's FTSE 100 and Germany's DAX also slipped.
Earlier, Asian markets had seen even bigger declines.
Japan's Nikkei index shed almost 4%.
Euro zone government bonds did at least stabilise.
But Germany's benchmark yield was still headed for its biggest monthly jump since 2016.
Assurances from European Central Bank chief Christine Lagarde and other policymakers failed to stem the rise in yields.
Technology stocks bore the brunt of this week's sell-off after powering the global stock market recovery last year.