U.S. inflation increased 0.4% on the month in February and 6% on the year, figures published at 12:30 p.m. London time showed.

Both readings were in line with Dow Jones estimates.

U.S. annual inflation was 6.4% in January, while monthly inflation was 0.5%.

European stocks moved slightly higher following the release, extending gains from 0.53% to 0.77%. U.S. stock futures were also trading higher.

— Jenni Reid

The collapse of Silicon Valley Bank had crypto investors on edge after Circle, the issuer of the stablecoin USD Coin, revealed it had $3.3 billion parked with the bank. CNBC’s Arjun Kharpal runs through how USDC lost its dollar peg but ended up regaining it.

Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two-thirds targeting “electrification and digitalization.”

The German automotive giant earlier this month posted a full-year 2022 operating profit of 22.5 billion euros, up 13% from the previous year, with battery and electric vehicle deliveries rising 26%.

Volkswagen Group CFO and COO Arno Antlitz said the strong financial position should enable the company to “continue investing in electrification and digitalization” even in a “challenging economic environment.”

Read the full story here.

— Elliot Smith

European equity markets opened cautiously higher Tuesday as the aftershocks from Silicon Valley Bank’s collapse continue to ripple through financial markets.

The pan-European Stoxx 600 index was up 0.2% at the start of trade, with sectors and major bourses a spread of modest gains and losses. The banking sector led losses with a 0.7% drop, following on from a tumultuous day for bank stocks Monday. Utilities and tech stocks led gains and were up 0.7%.

— Hannah Ward-Glenton

Professor of Economics at London Business School Richard Portes told CNBC that while we can’t predict contagion in the banking sector, European banks are better protected than those in the U.S.

Portes’ comments come as investors weigh up the fallout from the collapse of Silicon Valley Bank.

— Hannah Ward-Glenton

The number of job openings in the U.K. fell for the eighth month in a row, according to data from the Office for National Statistics.

Vacancies fell to 1.124 million between December 2022 and February 2023, a drop of 51,000.

The data also showed real pay growth (excluding bonuses) was at 6.5% among employees between November 2022 and January 2023 as wages fail to keep up with high inflation, which currently sits at 10.1%.

— Hannah Ward-Glenton

Oil prices dipped as the collapse of Silicon Valley Bank continues to reverberate across global markets.

Brent crude futures last traded lower 0.49% to $80.32 a barrel, while the U.S. West Texas Intermediate futures lost 0.6% to stand at $74.35 a barrel.

National Australia Bank expects the prices to drop further following a stronger than expected U.S. inflation data slated for release later.

“Oil prices fall on market fall-out from the US Silicon Valley Bank collapse. A stronger than expected US CPI data report tonight will put further downward pressure to near term prices,” NAB wrote in a daily note.

While energy prices have seen some relief due to diminishing shortage concerns, upside risks remain said Commonwealth Bank of Australia.

“We see upside risks to our outlook driven by a sustained fall in Russia’s oil and diesel exports,” CBA said.

—Lee Ying Shan

Asia-Pacific banks continued to see sharp falls in Tuesday morning trade.

Japan’s Softbank’s saw a decline of more than 3% in Tokyo’s first hour of trade as investors continued to weigh concerns over the Japanese investment powerhouse.

Banks also saw sharp losses, with Mitsubishi Ufj Financial Group down 6.92%, SMFG falling more than 7% and Mizuho Financial lower at 7.34% and Nomura falling 4.6%.

The U.S. consumer price index for February is expected to come in at 0.4% on a monthly basis or at a 6% annual pace, according to Dow Jones estimates.

This is just slightly lower than January’s inflation data of 0.5% and 6% respectively.

CPI will be the next data point that could provide insight on the Federal Reserve’s move ahead of its meeting on March 21 and 22.

A hot inflation report will raise expectations the Fed could hike rates by 50 basis points, up from the 25 points it implemented in February.

—Lim Hui Jie, Patti Dorm

Many firms will find a higher-interest-rate environment very difficult to operate in, as demonstrated by the Silicon Valley Bank crisis, said Anthony Doyle, head of investment strategy at Firetrail Investments.

“There will be winners and there will be losers and part of the challenge for investors today is identifying which are those companies that will find this environment much more difficult than they have done in a zero interest rate world,” he said.

Still, he identified three stocks that he thinks look resilient in this new market environment.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The collapse of Silicon Valley Bank has added to the woes of the tech sector, coming hot on the heels of expectations that interest rates are likely to remain high for some time.

But some strategists are doubling down on the sector.

“We think that for medium- and long-term investors, the recent bout of volatility that you’ve seen represents a buying opportunity,” Anthony Doyle, head of investment strategy at Firetrail Investments, told CNBC on Monday.

Pro subscribers can read more here.

— Zavier Ong

Startups will soon feel the secondary effects of Silicon Valley Bank’s collapse in a “very important way,” said Matt Higgins, CEO and co-founder of private investment firm RSE Ventures.

Speaking to CNBC’s “Street Signs Asia,” Higgins explained that SVB was “very paternalistic” to the sector, providing not only payroll services and loans to founders, but more importantly, lines of credit as well.

“A lot of these companies were having trouble already raising equity. And they were counting on those lines to extend their runway to push out [their] cash burn beyond the recession we all expect,” Higgins said.

However, with the shuttering of SVB, “that evaporated overnight, and there’s not another lender that’s going to be stepping in to fill those shoes.” he says.

— Lim Hui Jie

European markets are heading for a higher open Tuesday even as the aftershocks from Silicon Valley Bank’s collapse continue to ripple through financial markets.

The U.K.’s FTSE 100 index is expected to open 13 points higher at 7,566, Germany’s DAX 36 points higher at 15,024, France’s CAC up 22 points at 7,036 and Italy’s FTSE MIB up 52 points at 26,280, according to data from IG.

Earnings from VW, Circle and Porsche are expected, as are U.K. unemployment figures for January.

— Holly Ellyatt