IBEX 35 
Several US Federal Reserve (Fed) officials added to market jitters by indicating that they expect rates to remain high for an extended period, and even believe another hike is possible this year.
The context of high borrowing costs has increased fears of an economic recession, although some analysts point to the possibility of a "soft landing".
In fact, the latest macro data reflected the strength of the US economy, with the manufacturing sector and employment recovering, which gives some leeway to the Fed, which has insisted that it will not relent in its goal of bringing inflation to 2%. In any case, its leaders have indicated that future rate decisions would depend largely on macro data.
In this regard, the day will see the first US employment data this week, the JOLTS vacancy survey, which precedes Wednesday's private job creation survey and Friday's official report. "Both cases point to additional moderation in the labor market (...) we will see if these employment data confirm the idea of soft landing of the U.S. economy," wrote Renta4 analysts.
On the Asian front, the yen was in the spotlight as it approaches the psychological level of 150 against the dollar, which markets said could push Japanese monetary authorities to intervene the currency.
In this context, at 07:09 GMT on Tuesday, Spain's selective Ibex-35 stock market index was down 11.80 points, or 0.13%, to 9,307.20 points, while the FTSE Eurofirst 300 index of large European stocks was down 0.25%.
In the banking sector, Santander rose 0.36%, BBVA gained 0.29%, Caixabank advanced 0.93%, Sabadell gained 0.54%, and Bankinter gained 0.71%.
Among the large non-financial stocks, Telefónica fell 0.24%, Inditex dropped 0.08%, Iberdrola lost 0.54%, Cellnex fell 0.68%, and the oil company Repsol lost 0.52%.
(Information by José Muñoz; edited by Tomás Cobos)
