Lucy Harley-McKeown
Live
European markets dip and US mixed as attention turns to Nvidia earnings
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The FTSE 100 and European markets fell, and Wall Street was mixed on Tuesday, as traders grapple with a fall in oil prices and continued uncertainty around when central banks will begin cutting interest rates.
Read more: Bank of England has room for three rate cuts this year, IMF suggests
By the closing bell, the FTSE (^FTSE) 0.1% lower. The DAX (^GDAXI) also lost 0.3% and the CAC (^FCHI) fell 0.8%.
Meanwhile, the pan-European STOXX 600 (^STOXX) was 0.3% lower.
In the US, the S&P 500 (^GSPC) was 0.1% higher, having slipped about 0.1% in early trade, while the Dow Jones Industrial Average (^DJI) rose 0.2%. Meanwhile, the Nasdaq Composite (^IXIC) was almost flat after finishing Monday at a record high.
Investors are looking to corporates for a cue in the absence of top-level economic data releases. Nvidia (NVDA) is slated to report its latest earnings on Wednesday.
The FTSE was sensitive to an update from the IMF which warned on cutting taxes as a gap in public finances nears £30bn.
The IMF's report suggests the UK budget lacks capacity for new rounds of tax cuts, predicting trouble later in the decade if spending in departments like health and public investment continues at a high rate. This could spell trouble for politicians in an election year.
Brent crude (BZ=F) futures were down around 1.1% as traders fret about a prolonged environment of high interest rates and ongoing demand.
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