Wall Street stocks sank at the start of trading on Tuesday as the Federal Reserve began a two-day monetary policy meeting, while European stocks rebounded.

The IMF hopes to make "more progress" in talks on a new financial aid program for Argentina shortly, a senior fund official said Tuesday.

Business confidence in Germany, Europe's biggest economy, has picked up unexpectedly after a six-month slide, a closely watched survey showed Tuesday.

The Ifo institute said its monthly confidence increased to 95.7 points in January from 94.8 in December. Economists had forecast another slight dip to 94.5.

uropean stocks opened higher Tuesday after a day of steep losses in Asia as markets waited to hear from Federal Reserve chair Jerome Powell after a two-day policy meeting that ends Wednesday.

The possibility of conflict between Russia and Ukraine and concern over coronavirus outbreaks also were adding to uncertainties.

Thailand's prime minister arrived in Saudi Arabia on Tuesday for the first high-level meeting since relations between the nations soured three decades ago over a sensational jewelry heist that led to a diplomatic row and string of mysterious killings.

The official visit by Thai Prime Minister Prayuth Chan-ocha to Riyadh signals the nations are seeking to thaw relations, long chilled by the 1989 scandal. Saudi Arabia downgraded its diplomatic ties with Thailand over the theft that became known as the Blue Diamond affair.

The World Bank accused Lebanon's political class of orchestrating the country's economic collapse, warning in a report released Tuesday that the meltdown is a long-term threat to the small Mideast nation.

The World Bank's Lebanon Economic Monitor showed the country's gross domestic product plummeted from close to $52 billion in 2019 to a projected $21.8 billion in 2021, marking a more than 58% contraction. That's the biggest contraction of the 193 countries listed by the publication.

Lebanese officials began much-delayed talks with the International Monetary Fund Monday on support measures aimed at lifting the country out of its worst-ever economic crisis.

"We hope the negotiations will be concluded as soon as possible, but given the complexity of the issues it is possible that other rounds will be held," Deputy Prime Minister Saadeh al-Shami, who heads the Lebanese delegation, said in a statement.

Airlines must operate more flights in Britain this summer as demand recovers from the pandemic -- or lose lucrative take-off and landing slots, the UK government warned Monday.

As winter deepens, a grim situation in Afghanistan is getting worse. Freezing temperatures are compounding misery from the downward spiral that has come with the fall of the U.S.-backed government and the Taliban takeover.

Aid groups and international agencies estimate about 23 million people, more than half the country, face severe hunger and nearly 9 million are on the brink of starvation. People have resorted to selling possessions to buy food, burning furniture for warmth and even selling their children.

Global stock markets mostly sank on Monday, hit by fears over simmering Ukraine tensions -- and a painful pre-weekend selloff on Wall Street.