The European markets trading with minor cuts at the opening hour on Tuesday, tracking weakness across global markets. The British FTSE was last trading 0.1 percent lower. French CAC was trading 0.2 percent lower, while the biggest European market by volume, German DAX were last trading marginally lower.

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European markets closed lower on Monday, with CAC down one percent, and DAX half a percent in the red.

The Wall Street also ended lower on Monday. Dow Jones Industrial Average ended 0.6 percent lower, while S&P ended 0.2 percent lower and Nasdaq Composite ended 0.1 percent lower.

The European markets are also taking cues from their Asian counterparts. Asian markets traded mixed on Tuesday. Japan's Nikkei traded over a three decade high-mark, and was last trading 0.9 percent higher. Hong Kong was down 0.4 percent. China's Shanghai Composite was last trading 1.1 percent lower.

Crude oil prices fell on Tuesday, reversing gains from the previous session. At the last count, Brent crude futures were trading 1.1 percent lower at $75.9 a barrel. US West Texas Intermediate futures, too, were trading 1.2 percent in the red at $71.2 per barrel.

The Indian indices extended losses on Tuesday. At the last count, Sensex was down 170 points, and Nifty 50 was trading near the 18,550-mark.

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