Among list of events that bother investors in European equities today are Italy’s budget, Asia’s selloff, decline in US futures and a whole row of disappointing news from corporations, Bloomberg writes.

Therefore, there is no surprise that Stoxx Europe 600 may close at the lowest level since December 2016, down 1,4%.

EU will deliver its verdict in regards to Italy’s budget today. If it is rejected, then Italian assets will fall further.

China’s equities growth on Monday was short-lived, while US stocks has been falling five days in a row. Investors turned to safe heaven, which resulted in increase of US Treasuries and gold.

If to talk about separate shares, then Bayers fell by 7,5%, while GAM lost 17%. Renault was not able to reach quarterly sales target. IT-companies, including Ingenico Group SA, AMG AG and Atos SW, also disappointed. But even before news from those European corporation, earnings season has not started very well. About 32% of companies did not meet profit expectation, while 23% exceeded.

Good news is coming from utilities, leaded by National Grid Plc and Severn Trent Plc.