By Xie Yu and Anna Hirtenstein

U.S. stock futures wobbled Thursday on continued concerns about inflation, suggesting that the Dow is on track to extend a three-day losing streak.

Futures tied to the S&P 500 slipped 0.4% and those linked to the Dow Jones Industrial Average shed 0.5%. Nasdaq-100 futures ticked down 0.3%, suggesting further losses for technology stocks after the opening bell.

U.S. stocks dropped Wednesday, with the S&P 500 and Dow suffering their steepest three-day declines since late October after a sharp rise in consumer prices heightened concerns about inflation.

Dwyfor Evans, head of macro strategy for the Asia-Pacific region at State Street Global Markets, said the 4.2% increase in consumer prices compared with a year earlier triggered debates about whether "inflation is actually more of an issue than we were led to believe and whether the Federal Reserve is going to have to be a little bit more aggressive."

Still, Mr. Evans said a clearer picture would emerge only with a longer series of data on jobs and inflation. He said U.S. Treasury yields suggested that inflation expectations were still relatively contained.

Global stocks followed Wall Street lower on Thursday. The pan-continental Stoxx Europe 600 fell 1% in early trading and Hong Kong's benchmark Hang Seng Index lost 1%. Indexes in South Korea, Japan, Australia and the Chinese mainland also all retreated.

U.S. Treasury prices rose, pushing yields, which move in the opposite direction, slightly lower. The yield on the 10-year Treasury note declined to 1.685%, according to Tradeweb, down from 1.693% on Wednesday.

Taiwan's bench+mark Taiex shed 0.8%, putting it on course for a correction after a steep selloff in the previous session.

In Tokyo, shares in SoftBank Group plunged by more than 6%, even after the technology investor reported the highest-ever annual profit for a Japanese company. In a note to clients, Jefferies analyst Atul Goyal said the lack of a new buyback plan was disappointing, after SoftBank concluded an earlier program totaling $23 billion.

Bitcoin plunged 14% to $49,873, according to CoinDesk, after Tesla Chief Executive Elon Musk said his company had suspended accepting the cryptocurrency as payment for vehicles.

Write to Xie Yu at yu.xie@wsj.com

(END) Dow Jones Newswires

05-13-21 0425ET