The tech-heavy Nasdaq index in the US saw sharp declines as internet stocks faltered for a second day on concerns about increased regulation, while chipmaker stocks slid on signs of flagging demand.

US producer prices fell in February for a fourth straight month, pointing to tame inflation that could argue against an anticipated June interest rate hike from the Federal Reserve.

The number of Americans filing new claims for unemployment benefits tumbled last week to its lowest level in nearly 15 years, adding to bullish signals on the labour market.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labour market continued to strengthen.