Quick Overview

• Fresh worries about European banks sent stocks lower early Tuesday. The euro slid broadly and the yen hit a 15-year high.

• Obama will announce a six-year infrastructure revamp plan with an initial investment of $50 billion.

• The Association of American Railroads reported weekly rail traffic continues to set records with U.S. railroads posting their highest numbers for 2010 in both rail carloads and intermodal volume for the week ending Aug. 28, 2010.

• The EU finance ministers agreed on Tuesday to introduce a six-month period to monitor budgetary and structural polices of member states in a bid to strengthen economic governance of the 27-member bloc.

• Turkey's industrial production index rose 8.6% YoY.

• China agreed last month to lend Russia about $6 billion in exchange for increased coal supplies over the next quarter century, the Russian energy ministry said.

• A government spokesman said Pakistan may need 500,000 tonnes of sugar to meet growing demand at a time when its own cane crop has been devastated by floods.

• India's farm minister said the country's sugar production may come in at 22m tonnes in 2010-11, an estimate below consensus.