In Europe on Tuesday, equities markets were down as concerns in several areas affected investors. The FTSE Eurofirst 300 dropped 0.7 percent to 1,201.33, while in Frankfurt the Xetra Dax fell by 1.7 percent to 4,903.15.

Among the worries leading to the declines were continuing high oil prices and the general state of the global economy. The biggest immediate worry, however, seemed to be the German parliamentary elections scheduled for Sunday.

The gap between the two leaders has been shown in polls to be narrowing, and investors are worried that the lack of a clear victory by one or the other will result in a coalition government that will not be willing or able to act on economic reform.

German carmakers seem especially hard-hit on the day. DaimlerChryslyer was down 2.7 percent to €40.80, Volkswagen fell 2.3 percent to €44.13, and BMW lost 2.2 percent to €36.46. In addition, tire-maker Continental fell by 2.7 percent to €65.84.

The energy sector also saw losses. Italian oil company Saipem fell 1.9 percent to €13.30 and Norwegian firm Statoil lost 1.6 percent to NKr158.50, while Neste Oil of Finland dropped 0.8 percent to €28.40.

The paper manufacturing sector, however, saw gains on the day even though analysts’ assessments for the sector were mixed. Stora Enso of Finland gained 2.1 percent to €11.41 and UPM-Kymmene added 1.9 percent to €16.50. Elsewhere in the sector, Norske Skogindustrier of Norway was up 1.7 percent to NKr104.50 and Holmen of Sweden gained 2.3 percent to SKr242.