London (CNN Business) 1. Markets drop: US futures were pointing lower on Tuesday as investors around the world sold stocks.

European stocks dropped in early trade, with several major indexes touching their lowest levels in over a year. Asian markets ended the session sharply lower after posting strong gains on Monday.

"A 2.5% fall in the Shanghai Composite index today, after two days of strong gains, rather sums markets up," said Societe Generale analyst Kit Juckes. "The tide ... is going out, but there are days when the wind, and the mood, go in the opposite direction."

2. Saudi conference: Saudi Arabia's big investment conference started Tuesday without some of its VIPs.

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