European shares finished the day lower.
Financial stocks resumed their slide after UBS reported a first-quarter loss and as the boost from strong Goldman Sachs results on Monday ran out of steam. UBS sank 6.7 percent. There were also some negative influences from across the Atlantic. US industrial production fell again as it has for 14 of the last 14 months. And the chief executive of the world’s biggest retailer Wal-Mart said that there is still a “lot of stress” in the US economy and he does not anticipate a quick end to the recession. Mining company shares slipped after Rio Tinto’s said its iron-ore and aluminium output declined in the first quarter. US oil prices fell as stocks of crude there rose to their highest level in nearly two decades.