Odaily News European stocks edged lower on Tuesday, snapping a five-day winning streak. A decline in energy stocks overshadowed recent optimism about the Federal Reserve's rate cuts. The Stoxx Europe 600 index closed down 0.5% as falling oil prices hit energy stocks and bank stocks fell. Germany's DAX fell 0.3%, ending its longest winning streak since 2014. Global risk assets suffered a setback earlier this month as investors worried about a slowdown in the U.S. economy, and high-valuation stocks such as technology stocks were hit particularly hard. In Europe, more defensive sectors such as telecom and healthcare stocks rebounded, helping the Stoxx 600 rebound and put it on track to hit a record high. "Generally speaking, it's healthy for the market to experience small declines from time to time, which only reminds people that the market is not an escalator, it won't just go up and not down," said Michael Field, European market strategist at Morningstar. (Jinshi)