UNITED STATES

U.S. stocks declined on Tuesday due to investors' uncertainty whether the Federal Reserve will announce action to boost the U.S. economy as the recovery appear to be losing steam.

U.S. business productivity fell for the first time in 1-1/2 years in the second quarter and labor costs hardly rose, according to government data that underlined the halting pace of economic recovery.

Gold prices fell for a second day in Europe on Tuesday as the dollar strengthened, but prices did not stray far from $1,190 an ounce as traders awaited the outcome of a U.S. Federal Reserve monetary policy meeting.

U.S. business productivity fell for the first time in 1-1/2 years in the second quarter and labor costs hardly rose, according to government data that underlined the halting pace of economic recovery.

Stocks dropped sharply on Tuesday as commodity shares were hit by indications China's economic growth may be slowing and by mounting uncertainty over the Federal Reserve's assessment of the U.S. economy, due later in the session.

Wendy's/Arby's Group Inc plans to open 180 dual-branded Wendy's and Arby's restaurants in Russia over the next 10 years, becoming the latest U.S. fast food chain to look to that market for growth.

U.S. non-farm productivity declined for the first time in 1-1/2 years during the second quarter this year and labor costs barely edged up, according to a Labor Department report on Tuesday that underlined a slowing pace of economic recovery.

Oil dropped more than a dollar below $80 a barrel on Tuesday, sapped by hints of weaker demand for fuel in the world's top energy users and a strengthening U.S. dollar. U.S. crude for September delivery fell $1.80 to $79.68 a barrel by 1304 GMT, off a session low of $79.55. London Brent crude was down $1.90 at $79.09.

The Federal Reserve's monetary policy committee gathered for a one-day meeting on Tuesday to consider, and perhaps adopt, additional measures to prop up a softening U.S. economic recovery.

Stocks were poised for a sharp decline at the open on Tuesday as uncertainty built up ahead of the Federal Reserve's latest assessment of the economy from its monetary policy meeting later in the day.

Non-farm productivity fell for the first time in 1-1/2 years during the second quarter and labor costs barely edged up, according to a Labor Department report on Tuesday that underlined a slowing pace of economic recovery.

The World Health Organization is likely to announce on Tuesday that the H1N1 flu pandemic is over, indicating infection levels in most places have returned to those normal for seasonal influenza, health officials said.

Stock index futures fell on Tuesday, weighed by worries over weaker-than-expected import data from China and a cautious mood ahead of the Federal Reserve's meeting on monetary policy.

Stock index futures fell on Tuesday, weighed by worries over weaker-than-expected import data from China and a cautious mood ahead of the Federal Reserve's meeting on monetary policy.

Small business owners became more downbeat in July as expectations of weaker economic growth in the second half of the year reinforced a reluctance to hire, according to a survey published on Tuesday.

Stock index futures pointed to a lower open on Wall Street on Tuesday ahead of the outcome of the Federal Reserve's policy meeting, with futures for the S&P 500 down 0.58 percent, Dow Jones futures down 0.52 percent and Nasdaq 100 down 0.67 percent at 4:45 a.m. EDT.

Asian wheat importers were reluctant to commit to deals on Tuesday, as Australian cash prices eased following two straight sessions of decline in Chicago futures from two-year highs.

Goldman Sachs Group Inc has hired Michael Wise, a Morgan Stanley veteran, to run its financial institutions group, the Wall Street Journal said.

Gold retreated in Asian trade Tuesday, ahead of a crucial US Fed policy meeting. Gold for immediate delivery was seen trading at $1199.74 an ounce at 12.00 noon Singapore time while US gold futures for December delivery was at $1201.8 an ounce. Analysts said investors are hopeful of Fed taking steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

Gold prices eased below $1,200 an ounce in Europe on Tuesday as the dollar strengthened, but remained supported by uncertainty ahead of a monetary policy meeting of the U.S. Federal Reserve later in the day.

Oil dropped a dollar to below $81 a barrel on Tuesday, sapped by hints of weaker demand for fuel in the world's top energy users and a strengthening U.S. dollar. U.S. crude for September delivery fell $1.03 to $80.45 a barrel at 6:20 a.m. ET, off a session low of $80.30. London Brent crude was down $1.30 at $79.69.