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A rout in global markets eased on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7 to the dollar led the United States to label Beijing a currency manipulator.

U.S. stock index futures signaled a bounce on Tuesday, as China stepped in to steady the yuan and investors sought beaten-down stocks, a day after Wall Street's main indexes racked up their steepest one-day percentage fall of the year.

Members of the United Nations on Wednesday signed the Singapore Convention on Mediation, an agreement it hopes will make it easier to settle cross-border commercial disputes and stabilise trade relationships.

India has increased the cost estimate of a giant refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, four sources said.

China firmly opposes a U.S. decision to label it a currency manipulator, its central bank said on Tuesday, adding that Beijing has not used and will not use the yuan to cope with trade frictions with the world's biggest economy.

A freer-floating yuan could be a positive for China’s sovereign credit rating, agency Fitch said on Tuesday, by helping preserve its foreign exchange reserves and cushioning some of the negative effects of U.S. trade tariffs.

U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy on Tuesday and put itself up for sale after facing soaring rents and failing in its earlier attempts to find a buyer for the cash-strapped retailer.

U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy protection to restructure its business and pursue a sale, the New York Times reported on Tuesday.

U.S. stocks opened higher on Tuesday, with the battered technology stocks providing the biggest boost, as China stepped in to stabilize the yuan, a day after Wall Street's main indexes racked up their steepest one-day percentage fall of the year.

U.S. President Donald Trump wants to continue trade talks with China and the Trump administration is still planning to host a Chinese delegation for further talks in September, a top White House adviser said on Tuesday.

U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China, saying the United States was "in a very strong position," a day after his administration ratcheted up tensions by labeling Beijing a currency manipulator.

Kudlow told CNBC that he believes the Trump administration holds the upper hand in trade negotiations with China due to the comparative strength of the U.S. economy.

An escalation in a trade conflict between the United States and China will further damage the global economy, German Finance Minister Olaf Scholz warned on Tuesday, urging all sides to negotiate.

Amazon.com Inc on Tuesday lowered the price of its paid music service to 99 cents per month from $4.99 for students with a Prime subscription.

U.S. President Donald Trump on Tuesday vowed to protect American farmers against China by signaling to provide further aid if needed, a day after Chinese firms stopped agricultural purchases and Beijing threatened more tariffs on U.S. farm products.