·       European stock markets were in negative territory on Tuesday morning amid concerns on slowing global growth.

The pan-European Euro Stoxx 600 Index was lower by around 0.4 percent with all major bourses falling in the first hour of trade.

UBS shares sank by 4.4 percent after fresh earnings on Tuesday missed estimates as it noted outflows at its wealth management division.

Shares of U.K. airline easyJet also fell 0.8 percent after a trading update highlighted that operations had been affected by the drone disruption at Gatwick last year.

·       Asian shares stumbled and oil prices fell on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling ticked lower in the face of the latest twists and turns in the Brexit saga.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.9 percent on Tuesday, drifting away from a recent seven-week top.

U.S. markets were closed on Monday for a holiday so trading was generally subdued overnight. However, equity prices in Europe and Latin America stumbled after the weak Chinese data.

·       Japan’s Nikkei edged lower on Tuesday, retreating from a one-month high as investors took profits from recent gainers amid concerns about slowing global economic growth.

Panasonic Corp fell in the afternoon and ended 2.7 percent lower after sources said that Tesla Inc has signed a preliminary agreement with China’s Tianjin Lishen to supply batteries for its new Shanghai car factory, as it aims to cut its reliance on Panasonic.

The Nikkei share average shed 0.5 percent to 20,622.91, after closing at over a one-month high on Monday.

·       Shares in China fell on Tuesday as investors braced for a tough start to 2019 amid weak economic outlook at home and abroad.

At the close, the Shanghai Composite index fell 1.2 percent to 2,579.70 points.

In response to the gloomy growth outlook, investors expect China to loosen monetary and fiscal policies to boost growth. But these policies "may take some effect but will not be able to stop economic growth from slowing," especially with the trade war hanging in the air, analysts at OCBC said in a Tuesday note.