In European Equity Markets stocks finished Tuesday’s session in the red, amid political uncertainty in Italy. The pan-European Stoxx 600 closed down 0.54 percent. Basic resources outperformed, on the back of a rise in metal prices. Europe’s banking index was among the worst sector performers, down 1 percent. Britain’s Royal Mail fell to the bottom of the European benchmark after the postal service company issued a profit warning on Monday. Shares of Royal Mail fell 9 percent on the news.

In Currency Markets the euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency. Italy’s coalition proposed a budget with a higher-than-expected deficit target, exacerbating tensions with other euro zone leaders and worrying investors who want Rome to bring its debt under control. The single currency fell as low as $1.1505, its weakest since Aug. 21, before retracing to $1.1537, down 0.34 percent on the day.

In Commodities Markets oil prices steadied near their highest since November 2014 on Tuesday as markets braced for tighter supply once U.S. sanctions against Iran kick in next month. The international crude oil benchmark was flat at $84.98 per barrel after reaching a new four-year high of $85.45 in the previous session. U.S. West Texas Intermediate crude futures were up 11 cents at $75.41 a barrel, having hit a four-year high of $75.91 earlier in the session. Brent and WTI have roughly tripled compared with lows seen in January 2016.

In US Equity Markets stocks were flat on Tuesday, pressured by worries of a euro zone breakup after anti-euro comments from an Italian lawmaker. Eight of the 11 major S&P sectors were lower, led by a 0.57 percent decline in financial stocks as U.S. lenders such as Bank of America and Citigroup and Wells Fargo followed their Italian peers lower. The defensive utilities sector was the top gainer, rising more than 1 percent. PepsiCo fell 1.7 percent as weaker-than-expected margins overshadowed a quarterly profit that beat estimates.

In Bond Markets U.S. Treasury prices rose on Tuesday after an Italian lawmaker cast doubt over Italy’s membership in the euro, resulting in a sell-off in Italian government debt which sent investors seeking safe-haven bets. Italian 10-year bond yields jumped to a new 4-1/2-year high early on Tuesday. The U.S. 10-year yield was last at 3.052 percent and the 30-year bond yield was at 3.206 percent. The risk-off sentiment was evident in the fall in yields on German bunds, with the 10-year benchmark government yield down 3.5 basis points on Tuesday.