US stocks suffered on Tuesday their biggest daily drops since the selloff three weeks ago while shares in Europe dipped slightly. The Dow Jones Industrial Average lost 1.16 percent. Both the S&P 500 and the Nasdaq Composite fell 1.27 percent. Fears over more interest-rate increases was revived by the new Federal Reserve Chair Jerome Powell. He gave an upbeat view on the US economy and said data has strengthened his confidence on inflation. In Europe, major stock indices remained largely unchanged. The British FTSE 100 dipped 0.1 percent. The German DAX lost 0.29 percent. And the French CAC 40 was down 0.13 percent.