U.S. Markets

U.S. stocks ended lower on Monday, led by declines from technology shares after Wells Fargo downgraded the semiconductors sector.

The Dow Jones industrial average dropped 106.03 points, or 0.87 percent, at 12,063.85. The Standard & Poor's 500 Index was down 13.76 points, or 1.04 percent, at 1,307.39. The Nasdaq Composite Index slid 53.10 points, or 1.91 percent, at 2,731.57.

Oil prices edged lower despite ongoing conflict in Libya and concerns about unrest in the region threatening oil flows from other producers. Brent crude dipped 0.8 percent at $115.20 a barrel.

Intel Corp. (NASDAQ:INTC) declined 1.62 percent after the company stock was downgraded to “market weight” rating from “overweight” rating at Wells Fargo & Co. Cisco Systems Inc. (NASDAQ:CSCO) shares declined 1.09 percent to $18.20.

CIENA Corp. (NASDAQ:CIEN) stock plunged 9.82 percent as it guided second quarter revenue below Street view. The company expects second quarter revenue of $415 million to $435 million, below Street view of $438.54 million. The company projects second quarter adjusted gross margin to be in the low 40s range.

Shares of JDS Uniphase Corp. (NASDAQ:JDSU) slumped 6.87 percent and Micron Technology Inc. (NASDAQ:MU) declined 5.24 percent.

Shares of TomoTherapy Inc. (NASDAQ:TOMO) jumped 24.52 percent after Accuray Inc. (NASDAQ:ARAY) said it has agreed to buy TomoTherapy for $277 million or $4.80 a share in cash and stock, paving the way for the creation of a premier radiation oncology company.

Western Digital Corp. (NYSE:WDC) climbed 15.56 percent after the company said it agreed to acquire Hitachi Global Storage Technologies, a wholly owned subsidiary of Japan’s Hitachi , for $4.3 billion in cash and stock.

European Markets

European stock markets advanced in early trade on Tuesday, led by gains from financial stocks as crude oil prices slightly eased to below $104 per barrel.

The Stoxx Europe 600 Index gained 0.45 percent to 281.99. DAX30 advanced 43.73 points or 0.61 percent to 7,205.66, CAC 40 gained 17.38 points or 0.44 percent 4,007.79 and the FTSE 100 advanced 20.37 points or 0.34 percent to 5,994.15.

Old Mutual Plc. gained 2.02 percent following better-than-expected earnings and said it would stick to its three-year strategy.

Antofagasta Plc. advanced 0.6 percent after the company said its full year profit rose to $1.05 billion compared to $667.7 million a year ago. Revenue rose to $4.58 billion from $2.96 billion.

Share of Lundin Petroleum AB surged 6.1 percent after the company stock was upgraded to “buy” rating from “sell” rating at BofA Merrill Lynch Global Research.

Asian Markets

Asian stock markets advanced on Tuesday, as crude prices slightly eased but still above $104 per barrel amid ongoing political tensions in Libya.

Merger and acquisition activity boosted Tokyo shares but the gains were limited by declines from tech stocks after Wells Fargo Co. reduced the financial credit rating of the semiconductor industry in Japan. Benchmark index Nikkei advanced 0.19 percent or 20.17 points to 10,525.19.

Hitachi gained 1.78 percent to 514 yen after Western Digital Corp. (NYSE:WDC) said it agreed to acquire Hitachi Global Storage Technologies, a wholly owned subsidiary of Hitachi, for $4.3 billion in cash and stock.
Terumo Corp. advanced 3.22 percent to 4,640 yen after it agreed to buy Gambro AB's CaridianBCT unit for $2.63 billion.

Among the exporters, Sharp Corp. declined 1.3 percent to 821 yen and Sony Corp. fell 0.61 percent to 2,908 yen, while Toshiba Corp. declined 0.77 percent.

Hong Kong’s Hang Seng index advanced 378.48 points or 1.62 percent to 23,690.71 and Chinese Shanghai composite gained 0.15 percent or 4.36 points to 3,000.57. PetroChina Co. Ltd. gained 2 percent to HK$11.12 and China Petroleum & Chemical Corp., the nation's largest oil refiner, advanced 3.63 percent to HK$7.99.

South Korean shares ended higher after volatile trade on Tuesday as gains from shipbuilders and financials offset declines in technology plays. Benchmark Seoul composite gained 16.05 points or 0.81 percent to 1,996.32.

Shinhan Financial Group advanced 1.82 percent and Samsung Life Insurance gained 2.33 percent. Hynix Semiconductor Inc. declined 0.86 percent and Samsung Electronics fell 0.77 percent.