European stocks on Monday closed lower for a fifth straight session, after French utility Electricite de France SA issued a profit warning, and on concerns about Brexit weighing on growth prospects for the eurozone. Markets also appeared rattled by uncertainty surrounding progress for a cut in U.S. taxes.

U.S. stocks closed marginally higher Monday after the Dow and the S&P 500 posted their first weekly drops in two months last week. Upside was capped, however, as uncertainty continued to swirl around the state of Republican tax-cut legislation while blue-chip General Electric Co. tumbled to a more-than-five-year low.

Global equity markets were lower in Asia on Tuesday, as a pullback in commodity shares dragged Australia's benchmark index lower, while tighter liquidity weighed on Chinese stocks. Commodity stocks have been key to the recent rebound for Australia's underperforming equities market, helping the S&P/ASX 200 XJO, -0.92% hit 10-year highs earlier this month, but profit-taking pressure has been building.