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Turmoil in Europe's car sector could hit the central European economy and hurt banks' asset quality, S&P Global said on Tuesday, although it added that lenders were strong enough to withstand stress in their automotive portfolios. Automakers across Europe have announced plant closures and big layoffs as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles. The sector is a mainstay of central Europe's economic growth, accounting for 5% to 10% of the region's gross domestic product and 5% of its employment, according to S&P.

S&P Global Ratings revised Nissan Motor's credit outlook to negative from stable and affirmed its BB+ rating, as it expected it would take the Japanese automaker longer to improve its business performance. "The negative outlook reflects our view that the company's creditworthiness will continue to deteriorate if profitability does not improve and positive free cash flow is not secured," S&P said in a statement. Nissan has increased sales incentives in a bid to correct high inventory levels, which have risen due to a slowdown in car sales in North America, the company's main market, S&P said.

Falling electric vehicle (EV) sales in Germany dealt a “devastating” blow to the European market last year, as Chinese carmakers powered ahead of rivals in the West.

A monthlong stock market decline sparked by surging bond yields could be interrupted by strong 4th quarter earnings.

(Bloomberg) -- Alex Georges Tannous came across as a man with many of the trappings that might be associated with Emirati royalty: a Rolodex full of rich friends, a lavish villa in Dubai and a diplomatic passport to boot. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoBut US federal prosecutors say that was all a mirage. The Lebanese national, who pitched himself to Texas small-business owners

Energy stocks have surged 5% so far this year, outpacing the S&P 500 index's 1% loss after lagging the market for the last two years.

The benchmark index on Monday fell below its closing level on November 5, wiping out the Trump bump.

The yield gap between the S&P 500 and Treasurys is the widest it's been since 2002, highlighting the stock market's lost valuation edge.

Day-trader Lu Delong's optimism for a China stocks rally quickly evaporated in the first week of the year when, just three months after positioning for a surge fuelled by Beijing's stimulus pledges, he was forced to dump shares and tally his losses. Many retail investors like Lu sold shares in early January, precipitating the weakest start to the new year in almost a decade for China's $11 trillion stock market.

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoIndia’s equity benchmark is approaching a level seen as oversold by some investors after rising oil prices and a weak rupee sent the gauge to a seven-month low.A measure of short-term momentum, k