Housebuilder Vistry stock is tanking in early trade, down almost 30% after it posted a profit warning on Tuesday.

Anthony Codling from RBC Capital markets said:

Cold water was poured on a stock market rally China on Tuesday after a widely expected stimulus package from the central bank failed to materialise. The Hang Seng (^HSI) lost 5.6%. Other Chinese indexes gained after a holiday break last week, with the SSE Composite (000001.SS) jumping 4.6%.

Over in Japan, the Nikkei (^N225) fell 1%.

US indexes are currently slightly lower in premarket trade.

Here's how things played out on Monday, from our US team:

US stocks slipped on Monday and the 10-year Treasury yield (^TNX) jumped past 4% for the first time since August ahead of a week of key inflation data and the start of earnings season.

The Dow Jones Industrial Average (^DJI) fell 0.9%, around 400 points, after notching a fresh record high as stocks soared to close last week. The S&P 500 (^GSPC) shed almost 1%, while the Nasdaq Composite (^IXIC) dropped nearly 1.2% as Big Tech names led the pair lower.

Stocks veered to session lows in afternoon trading after a judge ordered Alphabet (GOOG, GOOGL) to open up Google's app store business, Google Play, to more competition. Amazon (AMZN) fell over 3%, while Microsoft (MSFT) lost over 1.5%. Chip heavyweight Nvidia (NVDA) was the only gainer among the "Magnificent 7" members.

Oil futures jumped more than 3.5% on Monday, extending their biggest weekly gains in over a year as traders price in whether Israel's expected response to Iran's recent attack will involve targeting the country's petroleum fields.

Hello from London. Lucy Harley-McKeown here for another day of markets news.

Today German chancellor Olaf Scholz is hosting the heads of the OECD, IMF, ILO, WTO and World Bank for talks.

In the UK there's an update on retail sales from the British Retail Consortium and a report from Barclays on consumer spending trends.

In terms of corporate updates, Pepsico (PEP) is reporting results.

Let's get to it.