European stocks and Euro struggle

On Tuesday European stocks fell and the euro struggled against the dollar as investors were reminded of a few of the challenges still faced by the world’s biggest single market. Oil joined a wider selloff in commodities.

The Stoxx Europe 600 Index declined a fourth day as data showed euro-area economic confidence fell for the first time this year, and as Mario Draghi’s dovish comments to the European Parliament weighed on banking shares. A report that Greece could opt out of its next bailout payment sank to the euro, though it erased the drop after the government later issued a denial. Italian bonds edged lower as traders digest the prospect of an earlier-thanexpected election.

The pullback across many assets serves as a reminder that, while equity benchmarks across the world have posted repeated records this year, potential headwinds to the global growth story remain and investor concern lingers. Elections in the U.K., Germany and Italy are looming as Brexit negotiations begin, while in the U.S. President Donald Trump’s ability to implement spending and tax-cut plans is far from certain.

The euro traded little changed at $1.1167 as of 6:16 a.m. in New York. The British pound added 0.2 percent. The Stoxx Europe 600 Index declined 0.2 percent. Futures on the S&P 500 Index fell 0.1 percent. The underlying gauge closed at a record high on Friday.

Gold was 0.3 percent lower at $1,264.18 an ounce. West Texas oil fell 0.6 percent to $49.52 per barrel; prices swung last week following the agreement by OPEC and its allies to extend cuts by nine months.

Japanese stocks ended higher despite a stronger yen, with the Topix reversing earlier losses. Data showed Japan’s jobless rate stayed at the lowest in more than two decades last month, but household spending remained in a slump. Hong Kong and China markets were shut for a holiday.