UNITED STATES

Stocks dropped 2 percent on Tuesday after data showed U.S. consumer confidence fell steeply in June on worries about the labor market.

Wall Street was set to fall about 1 percent at open on Tuesday on fresh concerns over fiscal problems in the euro zone ahead of bank repayments to the European Central Bank this week.

The euro hit an all-time low versus the Swiss franc and an 8-1/2-year trough against the yen on Tuesday as investors worried about the expiry of a key euro zone refinancing programme this week. The yen rallied as a 2 percent fall in European shares .FTEU3 raised the safe-haven appeal of the Japanese currency, along with the Swiss franc and the dollar, while the high-risk Australian and New Zealand dollars took a beating.

Stock index futures pointed to a decline of about 1 percent at the open on Tuesday as fresh concerns mounted over fiscal problems in the euro zone ahead of bank repayments to the European Central Bank this week.

Soon, gold is all set to cross the Rs 19,000 per 10 gm mark in India with global trends showing a huge rise in the coming days following the financial uncertainty continuing in global economy.

Britain's top shares fell sharply on Tuesday as renewed fears over global growth and worries about Europe's debt problems hit risk appetite, sending commodity-linked assets and banks sharply lower.

Gold inched higher in Europe on Tuesday as persistent concerns over the euro zone debt crisis supported safe-haven demand for the metal, but the stronger dollar limited gains.

Internet giant Google Inc said it plans to stop automatically redirecting users of its Google.cn site to its Hong Kong page, in a bid to secure renewal of the company's China operating license.

World stocks hit a 2-1/2 week low on Tuesday while oil and the euro also slipped as investors grew nervous over the funding situation of banks about to repay 442 billion euros ($545.5 billion) to the European Central Bank.

Oil prices fell 2 percent to below $77 per barrel on Tuesday as stock markets slumped and risk appetite dwindled on renewed worries over euro zone debt.

Gold held near $1,235 an ounce in Europe on Tuesday as persistent concerns over the euro zone debt crisis supported safe-haven demand for the metal, but the stronger dollar limited gains.

Stock index futures pointed to a sharply lower open on Wall Street on Tuesday, with futures for the S&P 500 down 1.4 percent, Dow Jones futures down 1.1 percent and Nasdaq 100 futures down 1.4 percent at 0930 GMT.

The euro hit a lifetime low against the Swiss franc and an 8 1/2-year trough versus the yen on Tuesday as stocks weakened and investors braced for a key euro zone refinancing programme to expire this week.

Japan's Nikkei average slipped 0.6 percent on Tuesday, erasing earlier gains as exporters fell on a stronger yen and charts remained grim, with the benchmark poised for its worst quarter since Lehman Brothers failed in 2008.

The euro slumped to a lifetime low against the Swiss franc and a 1-1/2-year trough versus sterling on Tuesday, stung by liquidity concerns before a key euro zone refinancing program expires this week.

Asian stocks fell on Tuesday and were on course for their worst quarterly performance since the end of 2008, while funding concerns in the euro zone sent the single currency tumbling to a record low against the Swiss franc.

The Supreme Court on Monday struck down part of a law to prevent fraud committed by companies like Enron and WorldCom, saying a board to police public companies' auditors violated the Constitution.

Asian stocks were on course on Tuesday for their worst quarterly performance since the end of 2008, as the tepid nature of rich world's recovery from global recession keeps investors on the defensive.

Oil fell as much as 1.7 percent to below $77 on Tuesday as forecasts indicated tropical storm Alex would skirt the main production region in the U.S. Gulf of Mexico, limiting disruption there to a few precautionary shutdowns.

Gold bounced on Tuesday after a volatile session the previous day, when it nearly touched last week's all-time high before a firmer U.S. dollar triggered heavy selling from speculators.

Gold prices gained momentum on bargain hunting in Asian trade Tuesday despite broad drops by all major commodities. Gold for immediate delivery was seen trading at $1239.69 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,241.7 an ounce.