Tech stocks weigh on U.S. and Asian markets with the Nasdaq breaking a three-day winning streak and the Nikkei slumping. Producer price inflation Stateside hits its highest level in 12 years, while several Fed members take a more hawkish line on rate hikes. Chinese imports come in far lower than expected but exports are propped up by global demand. In tech news, German software giant SAP issues strong guidance for 2022 and predicts a better-than-expected Q4.

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