In European Equity Markets the pan-European Stoxx 600 closed down around 0.7%, with the majority of sectors and major bourses in negative territory. Shares of Danish jeweler Pandora climbed 10% to top the Stoxx 600 after it confirmed full-year guidance following its second-quarter results. Meanwhile French retailer Casino climbed almost 6% after it announced the pursuit of a further 2 billion euros ($2.22 billion) in asset sales. Belgium’s largest telecoms company Proximus was among the worst performers, falling 6% after Goldman Sachs cut its stock to “sell.”

In Currency Markets sterling briefly jumped on Tuesday after German chancellor Angela Merkel said the European Union would think about practical solutions to the backstop, an agreed insurance policy for the Irish border that London wants scrapped. The pound briefly rallied more than 0.7% against the dollar and the euro after Merkel’s comments. Sterling rose to as high as $1.2180 from trading below $1.21 earlier, before falling back to $1.2125. Against the euro, sterling also rallied to as high as 91.015 pence, up 0.4% on the day.

In Commodities Markets oil prices fell on Tuesday on persistent concerns over future demand, but losses were capped by optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown. Brent crude was down 51 cents at $59.23 a barrel, while U.S. crude was down 73 cents at $55.48 a barrel. Both contracts had traded in positive territory earlier in the session. Concerns over the overall level of demand for oil continue to weigh on crude prices.

In US Equity Markets stocks eased on Tuesday after three sessions of strong gains, weighed by declines in financial companies, while better-than-expected results propped up retailer Home Depot. The S&P 500 was down 0.46%, at 2,910.32. The Nasdaq Composite fell 0.35%, at 7,974.53. All the major S&P sectors were trading lower, with the energy sector posting the steepest loss of 0.93%. Shares of Netflix Inc were the biggest drag on the S&P 500, losing 3% after Walt Disney Co announced its streaming service would launch in Canada and the Netherlands on November.

In Bond Markets Italy’s bond yields fell on Tuesday and its bond yield premia over safe-haven benchmark Germany narrowed after Prime Minister Giuseppe Conte said he would resign, potentially paving the way for a new coalition government. Italy’s 10-year bond yield fell 9 bps to 1.34% , narrowing the gap over benchmark German Bund yields to around 200 bps – its tightest in around 1-1/2 weeks. Germany’s 10-year bond yield was down 4 bps at -0.69%.