In European Equity Markets indices finished Tuesday’s trading session in the red, as investors monitored global trade developments. Basic resources and autos were the biggest decliners on Tuesday, amid continued concerns of a trade war between the U.S. and China. Meantime, oil and gas jumped 1.28 percent as a sector, on the back of a sharp rise in crude prices. ArcelorMittal fell 3 percent, after news that the steelmaker had raised its offer to buy Essar Steel. Heineken shares also fell following some rating downgrades by analysts.

In Currency Markets the U.S. dollar edged up against a basket of major currencies on Tuesday as concerns about trade friction between China and the United States prompted some safe-haven buying of the currency. The Australian dollar was another casualty of the trade tension between Beijing and Washington, falling to its weakest level against the greenback since February 2016. The euro initially rose 0.4 percent to $1.16445 before turning lower in early U.S. trading. The Australian dollar was down 0.26 percent to $0.70940.

In Commodities Markets oil prices rose about $1 a barrel on Tuesday as U.S. sanctions squeezed Iranian crude exports, tightening global supply despite efforts by Washington to get other producers to increase output. Brent crude futures rose $1.13 to $78.50 a barrel, a 1.5 percent gain. U.S. West Texas Intermediate (WTI) crude gained $1.10, or 1.6 percent, at $68.64 a barrel. Also supporting prices was an attack on the headquarters of Libya’s National Oil Corporation (NOC) in the capital Tripoli on Monday.

In US Equity Markets stocks were little changed on Tuesday, as gains in technology stocks helped the Nasdaq regain footing and curbed losses in the materials and industrials sectors due to fears of an escalation in Sino-U.S. trade spat. Nine of the 11 major S&P sectors were trading lower, with a 0.54 percent decline in the materials sector leading the decliners. Integrated Device Technology jumped 11.3 percent after Japan’s Renesas Electronics agreed to buy chipmaker in a $6.7 billion deal to deepen its push into semiconductors for self-driving cars.

In Bond Markets bond yields in benchmark euro zone issuer Germany rose to their highest level in five weeks on Tuesday, lifted by hopes of fiscal restraint in Italy, signs of a Brexit deal and higher yields on U.S. Treasury markets. The Bund yield rose more than three basis points to a five-week high at 0.44 percent, while 10-year U.S. yields rose 3 bps and three-year yields jumped to 2.816 percent, the highest in more than a decade. Italy’s 10-year bond yield rose three bps to 2.77 percent, having fallen to its lowest in more than six weeks at 2.7 percent earlier in the session.