In European Equity Markets the pan-European Stoxx 600 closed down 0.78 percent during Wednesday trade, with all sectors and major bourses in negative territory. Europe’s autos stocks led the losses, down almost 2.3 percent, amid media reports of U.S. concerns that China is pushing back against American demands in trade talks. Germany’s Bayer fell to the bottom of the European benchmark after a second U.S. jury found the company’s Roundup weed killer was a “substantial factor” in causing a man’s cancer. Shares of the pharmaceutical group fell more than 9 percent on the news.

In Currency Markets sterling fell sharply on Wednesday after British Prime Minister Theresa May asked the European Union to delay Brexit until June 30 and Brussels immediately pushed back. May’s request for a three-month extension is shorter than some in the market had been expecting and the prime minister said a no-deal Brexit was still possible. The pound fell to as low as $1.3147 as investors worried about the EU opposing May’s extension request. It fell nearly one percent on the day before recovering to around $1.3190.

In Commodities Markets crude prices rose to a four-month high above $60 a barrel after government data showed tightening oil supplies in the United States, but gains were capped by concerns over global economic growth due to the ongoing U.S.-China trade dispute. The front-month U.S. WTI crude futures contract, which expires Wednesday, gained 82 cents, or 1.4 percent, to $59.85 a barrel. It earlier hit $60.03 a barrel, the highest since Nov. 12. International Brent crude rose 78 cents, or 1.2 percent, to $68.39 a barrel.

In US Equity Markets stocks fell on Wednesday after economic bellwether FedEx Corp’s downbeat profit outlook raised concerns about global growth, while investors waited for more clarity on the Federal Reserve’s interest rate forecasts for the rest of the year. FedEx Corp fell 4.4 percent after the package delivery company cut its 2019 profit forecast for the second time on slowing global trade growth.  The S&P 500 was down 0.25 percent, at 2,825.63 and the Nasdaq Composite was down 0.08 percent, at 7,717.47. Eight of the 11 major S&P sectors retreated, with healthcare stocks being the biggest drag.

In Bond Markets core euro zone bond yields fell on Wednesday from 1-1/2 week highs hit earlier this week as the market waited for further clarity on the direction of U.S. interest rates and analysts struggled to make sense of the UK’s Brexit negotiations. In late trade, Germany’s 10-year bond yield was down 2.5 bps at 0.08 percent. French 10-year government bond yields were down 2 bps at 0.45 percent, while peripheral bond yields were marginally higher. Elsewhere, Germany sold 3.209 billion euros of five-year bonds.