GLOBAL MARKETS-Shares Retreat, Euro Dips, Oil Prices Soar with Tariffs in Focus

WALL STREET - LONDON. Global equities declined on Tuesday as U.S. investors awaited earnings reports due this week from megacap companies along with the Federal Reserve's next policy decision, while oil prices jumped as the U.S. threatened China with higher tariffs if it keeps buying Russian oil. 

Oil prices soared by more than $2 after U.S. Treasury Secretary Scott Bessent said China could see high tariffs if it continues to buy oil from Russia.