Dow plunges more than 450 points amid broad market losses

12:10pm: Nasdaq relatively better off after big Monday losses The Dow tumbled 466 points, 1.3%, to 34,277 at midday. The Nasdaq improved after a sluggish start to land down 30 points, 0.2%, at 13,372, and the S&P 500 shed 38 points, 0.9%, to 4,151. "While yesterday’s US selloff was geared heavily towards those high P/E growth names, today has seen traders take on a more indiscriminate risk-off approach," IG Senior Market Analyst Joshua Mahony wrote. "In a turn of events, today has even seen commodities fall despite many seeing their gains as a reason to be fearful. With lumber going limit down in trading, there is a fear that a monetary tightening could perhaps dampen some of the demand for construction materials as we go forward." 10.05am: Proactive North America headlines: Psyched Wellness Ltd (CSE:PSYC) (OTCQB:PSYCF) (FRA:5U9) inks research contract with the National Research Council of Canada Evergold Corp (CVE:EVER) (OTCMKTS:EVGUF) (FRA:5EG) lays out plans for summer 2021 field season at its Snoball and Golden Lion properties in British Columbia PlantX Life Inc (CSE:VEGA) (FRA:WNT1) (OTCQB:PLTXF) achieves new record monthly gross revenues for the month of April 2021 Gatling Exploration  Inc (CVE:GTR) (OTCQB:GATGF) (FRA:G28A) beefs up drill program at Larder ahead of resource update earmarked for 3Q American Manganese Inc (CVE:AMY) (OTCQB:AMYZF) (FRA:2AM) says Advisory Board member Dan McGroarty appointed to DOE's Critical Materials Institute Advisory Board Phunware Inc (NASDAQ:PHUN) launches PhunToken Purchase Portal to begin selling PhunToken to consumers, developers and brands Algernon Pharmaceuticals Inc (CSE:AGN) (FRA:AGW) (OTCQB:BTHCF) hits 50% of enrollment target for Phase 2 lung fibrosis and chronic cough trial of ifenprodil Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) teams with CannMart to offer its brands online Falcon Gold Corp (CVE:FG) (OTCPINK:FGLDF) (FRA:3FA) kicks off 2021 exploration at its Central Canada gold mine project in Ontario Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN1) outlines key achievements of last seven months, including Eau Claire drilling Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF) (FRA:JAM1) speeds up PLENITUDE clinical trial using its cannabis medicine QIXLEEF to treat cancer pain First Cobalt Corp (CVE:FCC) (OTCQX:FTSSF) (FRA:18P) doubles land position surrounding its Iron Creek Project in Idaho Vuzix Corporation (NASDAQ:VUZI) (FRA:V7XN) reports record $3.8M Smart Glasses sales in 1Q results Nomad Royalty Company Ltd (TSE:NSR) (OTCQX:NSRXF) (FRA:IRLB) eyes further growth in 2021 after posting strong production from its portfolio Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) inks LOI to become official technology partner to $2.7B All Net Resort and Arena Project in Las Vegas OTC Markets Group Inc (OTCQX:OTCM) h says OTCQX Market reaches 500 company milestone with addition of its first Danish company, Astralis 9.40am: Wall Street starts in red Wall Street began Tuesday’s session firmly in the red as worries about inflation and a tech sell off sent the main indices lower in early trading. Shortly after the opening bell, the Dow Jones Industrial Average was down 0.75% at 34,482 while the S&P 500 dropped 1.13% to 4,141 and the Nasdaq sank 1.89% to 13,148. One of the tech stocks on the slide was electric car maker Tesla Inc (NASDAQ:TSLA), which fell 4.1% to US$603.36 in early deals after downbeat sales data from China. 7:50am: Wall Street set to sink The main indices on Wall Street are expected to open sharply lower on Tuesday morning as jitters around inflation unnerve investors. Technology shares are set to bear the brunt of the selling again, with investors seeking lower-risk assets which are likely to give a better return in an environment of higher inflation and rising interest rates. The Dow Jones Industrial Average is expected to open down around 0.45% or 140 points at 34,602, while the S&P 500 is set for a 0.78% fall and the tech-heavy Nasdaq Composite is forecast to drop 1.38%. Sophie Griffiths, market analyst at OANDA, said: "With China and the US, the world’s two largest economies, showing signs of rising inflationary pressures, investors are getting nervous. The overriding fear is that pandemic stimulus combined with reopening economies will spark a sharp drive high in inflation, forcing central banks to take action, tightening policy and potentially slowing down economic recovery... "US indices are pointing to further losses, with the tech sector once again taking the hardest hit. Big tech’s blowout earnings numbers from just a few weeks ago have already long since been forgotten, with other market dynamics in play now." Four things to watch for on Tuesday: The somewhat thin earnings diary is scheduled to see figures from Canadian miner Kinross Gold Corp (NYSE:KGC), online payments firm PaySafe Ltd (NYSE:PSFE) and foodservice and unform maker Aramark Corp (NYSE:ARMK) SPAC mergers are back in focus after startup mortgage lender Better unveiled plans to list on the market in a US$7bn acquisition deal Shares in Apple Inc (NASDAQ:AAPL) may also draw some attention as the company continues its legal battle with Fortnite developer Epic Games On the macro data front, there will be some attention given to the latest US jobs opening figures (the JOLTS or job openings and labour turnover survey) after Friday's very disappointing non-farm payroll numbers, with expectations being for a rise in openings from just under 7.4mln to 7.5mln