In European Equity Markets the pan-European Stoxx 600 Index came under renewed pressure in afternoon trade, closing down 0.41 percent with all major bourses falling into the red. The bulk of sectors traded lower, with banks and miners both down over 1 percent. Looking closer at individual stocks, UBS shares fell by a little over 3 percent after fresh earnings on Tuesday missed estimates, as it noted outflows worth nearly $8 billion at its wealth management division.

In Currency Markets the U.S. dollar rose against a basket of other major currencies on Tuesday, a day after the International Monetary Fund trimmed its global growth forecasts, and as worries about U.S.-Chinese trade tensions drove investors to shun riskier currencies. The Australian dollar, often used as a liquid proxy for China investments, eased 0.39 percent to $0.713. The euro was down 0.14 percent at $1.1348, its lowest since Jan. 3.

In Commodities Markets crude prices fell more than 3 percent on Tuesday over concerns that China’s slowing economy could curtail fuel demand worldwide as forecasters predicted weaker global growth amid the U.S.-China trade war. Brent oil futures were down $1.95, or 3.1 percent, at $60.79 a barrel. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down $1.83, or 3.4 percent, at $51.97.

In US Equity Markets stocks fell on Tuesday, weighed by losses in the industrials and technology sectors, as fears of slowing global economic growth resurfaced after the IMF trimmed its outlook in a week of heavy corporate earnings. The S&P 500 was down 0.86 percent, at 2,647.62 and the Nasdaq Composite fell 1.01 percent, at 7,084.94. Halliburton Co’s shares fell 4.0 percent after the oilfield services company saw a slowdown in well completions in North America.

In Bond Markets Spain’s long-dated government bond yields fell to six-month lows on Tuesday after a new 10-year bond, sold via a syndicate of banks, attracted record demand. Euro zone bond yields generally drifted off their lows after news that German investor morale brightened unexpectedly in January, although worries over world economic growth, trade tension and a Brexit impasse continued to underpin the market.