Stocks fell as weak data out of China and lower global growth estimates from the IMF renewed fears of the global economy slowing down.
Crude futures tumbled on Tuesday as China posted its weakest economic expansion in nearly three decades and the IMF revised its global growth forecast lower.
The dollar rose against a basket of other major currencies on Tuesday, a day after the International Monetary Fund trimmed its global growth forecasts, and as worries about U.S.-Chinese trade tensions drove investors to shun riskier currencies.
Gold held firm on Tuesday, propped by interest from investors seeking refuge from concerns over slowing global growth, while gains for the metal were limited as the dollar held near a multi-week peak.
Stocks in Asia declined on Tuesday as investor sentiment dipped on concerns about the global outlook, after the International Monetary Fund (IMF) slashed its world economic growth forecast on Monday.
U.S. government debt yields fell on Tuesday as the U.S. government shutdown entered its 32nd day and trade fears resurfaced.
The dollar held near a two-week high on Monday, shrugging off concerns about weakening global growth and data showing China's economy slowed sharply in 2018.
Gold slipped to its lowest in almost a month on Monday as a firm dollar and greater risk appetite outweighed support from an expected pause to increases in U.S. interest rates.
Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China's economic growth is cooling and instead latched on to positive supply-side drivers for the market.
The pan-European Stoxx 600 index sank around a quarter percent on Monday, with most sectors and major bourses in the red.
China's economic growth came in at 6.6 percent in 2018 — the slowest pace since 1990. It was in line with expectations from economists polled by Reuters, and lower than the revised 6.8 percent in 2017.
Stocks rose on Friday as investors cheered potential progress in trade negotiations between China and the U.S.
U.S. government debt yields rose Friday after Chinese officials offered to boost U.S. imports for six years.
European stocks moved higher on Friday, after a report of progress on U.S.-China trade talks raised hopes of a breakthrough in their long-running dispute.
The Wall Street Journal reported that Treasury Secretary Steven Mnuchin proposed lifting all or some of the tariffs on China in order to advance trade discussions.
Gold slipped to the lowest in more than a week on Friday as hopes of a thaw in the U.S.-China trade dispute perked up stock markets, while palladium held above $1,400 on a supply crunch.
The dollar held firm against its rivals on Friday, set for its first weekly gain since mid-December on optimism about talks to end the trade war between China and the United States.
Oil prices sharply extended gains, following a report that Beijing has put forward a plan to eliminate its trade surplus with the United States.
Stocks rose on Thursday on the back of a report that said the U.S. could ease tariffs on Chinese goods during their trade negotiations with China.
European stocks were lower Thursday afternoon, amid heightened political uncertainty in the U.K. and ongoing concerns over China's cooling economy.