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Global stocks were mostly lower Tuesday, pressured by falling metals prices and some downbeat economic data.

The Stoxx Europe 600 was down 1% in early trade, following Monday's losses in the U.S. and some disappointing earnings reports Tuesday.

Prices for base metals such as copper remained near multiyear lows following losses on Monday, when they were hit by the dual headwinds of a stronger dollar and fears about lower demand.

Mining companies dragged on Asian indexes, with Australia's S&P ASX 200 falling 1% and Hong Kong's Hang Seng Index down 0.4%. Japan's Nikkei Stock Average rose 0.2% as it reopened from a holiday.

Wall Street closed lower Monday in light trading ahead of the Thanksgiving holiday.

In currencies, the euro was up slightly against the dollar at $1.0640, despite data showing the German economy slowed in the third quarter.

The dollar was down 0.2% against the yen at ¥ 122.66.

In commodities, Brent crude oil was up 0.9% at $45.25 a barrel following suggestions on Monday that Saudi Arabia might cut oil production.

Gold was up 0.4% at $1,071, after nearing a 5½ -year low.

Later Tuesday, investors will parse a reading on U.S. third-quarter growth as the Federal Reserve inches towards its first interest rate increase in nearly a decade.

"A strong number could be the final piece of the puzzle needed for the Fed to begin its rate hike in December," said Farbod Mimeh, a dealer at London Capital Group.

On Monday, Fed Chairwoman Janet Yellen said she and her colleagues expect more improvement in the labor market and for inflation to move toward the Fed's 2% goal.

"If that is the case, my colleagues and I have indicated it will be appropriate to begin to normalize interest rates," she wrote, adding "most of us expect the pace of that normalization to be gradual."

Write to Riva Gold at riva.gold@wsj.com

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(END) Dow Jones Newswires

November 24, 2015 04:45 ET (09:45 GMT)

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