European stocks closed lower on Tuesday as investors wavered ahead of a two-day meeting of the U.S. Federal Reserve and global concerns over a Brexit weigh on sentiment.
Amid the risk-off sentiment in markets, investors have been parking their money in safe-haven assets. The German 10-year bund yield fell below zero for the first time Tuesday. A negative yield means that investors would be paying the government in order to hold its bonds. By the close in Europe, the yield was minus 0.002 percent.
The pan-European STOXX 600 closed the day down 1.89 percent. In the U.S., markets were also in a subdued mood with the Dow Jones Industrial Average off 0.69 percent at the open, while the broader S&P 500 down 0.66 percent.