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US markets declined with the S&P 500 experiencing its biggest decline in 7 weeks. Losses were led by energy companies which dropped as oil prices continued to fall. Worries about global growth and weak data from Asia also pushed prices lower.

Asian markets declined across the region. The Nikkei lost 0.68% as the Dollar posted losses against the Yen, falling below 120. Chinese markets were hit by falling energy shares but losses heightened following the Central Economic Work Conference.

European markets are lower today as traders react to signs of slowing global growth.

Oil dropped to a new 5 year low after Iraq cut their prices to Asia in response to a previous cut by Saudi Arabia. The selloff began when OPEC decided not to cut production at their last meeting and analysts estimate that the price could remain low for up to 6 months if no cut is made. The API will release inventory data later today and could spark short term volatility.

Gold rallied and climbed above $1200/ounce as fears over global growth resurfaced following weak data from Japan and Europe. The price also climbed as the stock market declined and people reinvested in the metal. Gains may be limited, however, as speculation has increased that the Federal Reserve could hike US interest rates sooner.

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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 1) Stock Markets Tumbling

Every single major global stock market is trading in the red -- or closed with losses Tuesday -- and US stock futures are looking pretty weak.

Traders are blaming oil for the widespread loss of confidence in stock markets. Crude oil is trading below $64 per barrel, a level not seen since 2009, and that is seriously hurting oil companies and igniting concerns about a squeeze on the booming American oil industry.

"Investors are worried that there is no floor in sight for crushing oil prices," said Naeem Aslam, chief market analyst at AvaTrade.

Across Europe, most indexes are declining by more than 1%. The losses were even more dramatic in Asia, where the Shanghai Composite index plunged more than 5%.

2) Tesco Troubles

In the UK, shares in the grocery giant Tesco (TSCDY) tumbled about 11% after the company issued another profit warning. The grocer has been struggling amid increased competition and an accounting scandal in which it admitted to overstating its profit forecasts. Even the stalwart shareholder Warren Buffett has been cutting back on his investment in the company.

3) Russian Ruble Sinking

The Russian ruble continued declining Tuesday and is trading near all-time lows. The currency has fallen by about 40% against the US dollar this year.

The Russian economy has been hit from all sides this year as it struggles with Western sanctions, declining oil prices and high inflation.

Experts are increasingly worried Russian authorities may introduce capital controls -- which limit the flow of money -- in an effort to manage the economy. However, a move of this kind can further erode confidence in the financial system and spur consumer panic.

4) Monday Market Recap

US indexes lost ground in the previous session. The Dow Jones industrial average lost 0.6%, while the S&P 500 slid 0.7% and the Nasdaq closed down 0.8%.

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What is it? It checks the change in the price of goods and services purchased by consumers.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates.

When? December 9^th at 8:30pm Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the CNY to rise.

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What is it? It checks the change in the number of new loans granted for owner-occupied homes.

It's a leading indicator of demand in the housing market - most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market.

When? December 9^th at 7:30pm Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the AUD to rise.

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What is it? It checks the number of job openings during the reported month, excluding the farming industry.

When? December 9^th at 10:00am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the USD to rise.

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What is it? It checks the change in the estimated value of all goods and services produced by the economy during the previous 3 months.

When? December 9^th at 10:00am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the GBP to rise.

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3 Tips for Today's Trading - 08/12

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What is it? It checks the change in the total inflation-adjusted value of output produced by manufacturers.

It's a leading indicator of economic health - production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.

When? December 9^th at 4:30am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the GBP to rise.

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3 Tips for Today's Trading - 08/12

The Importance of Diversification

How I Made Over $30,000 a Year by Investing in Binary Options

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