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Soaring stocks stalled on Tuesday and high-flying currencies such as the euro and Australian dollar lost altitude, as a weeks-long risk rally hit turbulence.

(This June 8 story corrects GDP decline in paragraph 6 to 5.0% from 4.8%)

European Trade Commissioner Phil Hogan confirmed on Tuesday that he was considering a bid to become the next director-general of the World Trade Organization, a post that will become vacant at start of September.

U.S. luxury jeweler Tiffany & Co , which is being bought by France's LVMH for $16 billion, said on Tuesday it had amended some of its debt agreements to bolster its liquidity amid the coronavirus pandemic after its quarterly sales sank 44%.

As Sharif Uddin contemplates leaving the cramped Singapore dormitory where he has spent weeks under coronavirus quarantine, fears about his future creep in.

Oil prices fell on Tuesday weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.

Macy's Inc said on Tuesday its 450 reopened stores were performing better than expected, giving some respite for the department store chain that reported nearly $1 billion in quarterly operating losses due to COVID-19 lockdowns.

Ian Taylor, who built Vitol into the world's biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.

U.S. luxury jeweler Tiffany & Co said on Tuesday it had received antitrust clearances from Mexican and Russian authorities to go ahead with its $16.2-billion purchase by French giant LVMH .

U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting.

S&P Global Ratings on Tuesday lowered its outlook on Japan's sovereign debt rating to stable from positive, citing increased uncertainty over the country's fiscal health as it boosts spending to overcome the effects of the coronavirus pandemic.

HSBC said on Tuesday that it had lowered its year-end forecast on 10-year British government bond yields to 0%, given a small probability of negative interest rates and a sense that rates will stay low for a long period.

Volkswagen replaced Herbert Diess as chief executive of the VW brand on Monday and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company's largest plants in Germany.

Hong Kong will lead a $5 billion rescue of Cathay Pacific Airways , which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic.

Vitol's former chief executive and chairman Ian Taylor has died at the age of 64 from cancer, according to an internal memo and four sources familiar the matter.

G7 government bonds? Check. Gold? Check. But that may not be enough as the coronavirus crisis accelerates a hunt for a wider pool of assets to better balance investment portfolios during stressful times.

S&P Global Ratings said it has revised Japan's outlook to stable on increased uncertainty around debt stabilization.

A plunge in household spending and investment pulled down euro zone gross domestic product in the first quarter as the COVID-19 pandemic struck, but the fall was slightly smaller than first estimated, the European Union's statistics office said.

A U.S. Senate report released Tuesday says the U.S. government failed to properly oversee Chinese-owned telecommunications companies for nearly two decades.

Cathay Pacific Airways Ltd revealed on Tuesday the Hong Kong government will lead a recapitalisation plan worth HK$39 billion ($5 billion) to help it through the coronavirus pandemic, the latest public rescue for a troubled airline.