In European Equity Markets the pan-European Stoxx 600 ended lower by 0.54 percent with all major country indexes in negative territory. U.K. retailer Debenhams had their worst day ever, finishing 21 percent lower, as rival House of Fraser announced that it will close stores after failing to negotiate new lease terms with landlords. The owner of House of Fraser, Sports Direct holds a 30 percent stake in Debenhams. Danish shipping group A.P. Moller-Maerskbeat third-quarter operating profit forecasts on Wednesday, but shares were almost flat at the close.

In Currency Markets the US dollar held its earlier losses against a basket of currencies on Wednesday as data showed U.S. consumer prices grew in line with analysts forecasts in October, reinforcing the view domestic inflation is increasing at a moderate pace. Sterling vs. dollar implied overnight volatility jumped to 23 percent on Wednesday, its highest since Britain’s general election in June 2017, as traders prepared for Prime Minister Theresa May’s Brexit deal showdown. Implied overnight volatility is on course for its biggest weekly rise in at least five years.

In Commodities Markets oil rose on Wednesday, recouping some of the previous session’s slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market. Prices rallied toward $67 after Reuters reported OPEC and its partners are discussing a proposal to cut output by up to 1.4 million barrels per day (bpd), a larger figure than officials have mentioned previously. International benchmark Brent crude was up $1.43 a barrel at $66.90, having fallen as low as $65.02. U.S. crude was up 82 cents at $56.51.

In US Equity Markets stocks turned lower on Wednesday as early support from tame consumer prices data and a rebound in oil prices faded, with Apple Inc. leading a decline in technology stocks. The S&P 500 lost 0.25 percent, to 2,715.3 and the Nasdaq Composite fell 0.42 percent, to 7,170.56. Macy’s reported quarterly results that topped Wall Street’s forecasts and also upped its annual earnings expectations. The report initially boosted the department store chain’s stock, but it reversed r by mid-morning, falling 2.9 percent to $34.74.

In Bond Markets U.S. benchmark 10-year Treasury yields rallied from two-week lows on Wednesday, bolstered by gains on Wall Street and continued optimism about Britain’s exit from the European Union. Yields on other maturities also rose, with a little help from in-line U.S. core inflation data for October. That should keep the Federal Reserve firmly on track to raise interest rates next month and a few more times in 2019. Benchmark 10-year note yields rose to 3.154 percent, from 3.145 percent late on Tuesday. Ten-year yields earlier fell to a two-week low of 3.132 percent.