In European Equity Markets stocks ended lower Tuesday, amid fears of a crisis in emerging markets and trade tensions between the U.S. and China. Basic resources were the biggest losers in Europe as fears lingered of a U.S.-China trade war. Danske Bank led losses after a report about the lender’s investigation into a money laundering scandal in Estonia. The stock fell 7.16 percent. Shares of WPP were down 6.62 percent after releasing financial results for the first half of the year. The firm unsettled investors after it said the cost of returning to sustainable growth would result in a cut to its 2018 margin outlook.

In Currency Markets the US dollar rose broadly on Tuesday as concerns about a possible escalation in trade conflict between the United States and China boosted safe-haven demand for the greenback and as investors dumped emerging market currencies. Emerging market currencies came in for special punishment as investors feared these export-oriented economies would be caught in the middle of any escalating trade conflict. The Turkish lira and the Mexican peso fell 1 percent against the dollar. The euro was down 0.59 percent. The greenback gained 0.15 percent against the Japanese yen.

In Commodities Markets oil prices rose on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane. U.S. light crude jumped $1.60 a barrel from Friday’s close to a peak of $71.40, its highest since mid-July, before easing to around $70.65. U.S. markets were closed on Monday for Labor Day. Benchmark Brent crude, which traded on Monday, was up 80 cents at $78.95 a barrel, having earlier reached a high of $79.72, its strongest since May. Barclays bank said on Tuesday oil markets had changed since 2017, when worries about rising supply were more evident.

In US Equity Markets stocks fell on Tuesday as a drop in heavyweights Facebook and Nike added to worries over trade negotiations between the United States and other major economies. Facebook fell 3 percent after brokerage Moffett Nathanson downgraded the social media giant to “neutral” from “buy” citing revenue growth deceleration. Nine of the 11 major S&P 500 sectors were lower, led by a 1.12 percent drop in the telecom sector. The S&P 500 was down 0.30 percent, at 2,892.91 and the Nasdaq Composite fell 0.48 percent, at 8,070.53. Verizon fell 1.9 percent after Barclays downgraded the wireless carrier’s stock.

In Bond Markets U.S. Treasury yields rose on Tuesday as investors prepared for heavy corporate debt supply and as falling Italian debt yields reduced safety demand for U.S. government debt. Benchmark 10-year notes fell 10/32 in price to yield 2.88 percent, up from 2.853 percent on Friday. The yield curve between two-year and 10-year notes steepened to 25 basis points, from 23 basis points. The Treasury market was closed on Monday for the Labor Day holiday.