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• European equities open lower on Wednesday morning following comments from Fed Chairman Jerome Powell committing to a gradual increase in interest rates.

The pan-European Stoxx 600 was 0.10 percent lower with most sectors trading in negative territory.

• Asian shares extended losses on Wednesday as weak Chinese Japanese manufacturing data revived worries about global growth amid anxiety over faster rate rises in the United States.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped more than 1 percent, its biggest daily percentage drop since Feb.9 when world financial markets were battered by concerns U.S. inflation is picking up.

Growth in China’s services industry also slowed, suggesting the key sector was starting to display signs of fatigue.

The weakness was driven by disruption due to the Lunar New Year holidays and curbs to factory output from tougher pollution rules, but there are worries of a bigger loss in momentum.

Julian Evans-Pritchard, senior China Economist at Capital Economics, said the “the risk is still that the economy fares worse this year than is generally expected.”

In Japan, the world’s third-largest economy, industrial output in January took its biggest tumble since a devastating earthquake in March 2011, highlighting a weakening in demand and a build up of inventory.

• Japan’s Nikkei share average fell on Wednesday, snapping a three-day winning streak, pressured by losses on Wall Street and a larger-than-expected fall in Japanese industrial output.

The Nikkei ended 1.4 percent lower at 22,068.24 points.

• Japanese stocks are expected to claw their way back close to a 26-year high by end-December, up over 5 percent in 2018, but could be held back by likely prospects of a stronger yen, a Reuters poll of market strategists and fund managers found on Wednesday.

However, the gains will likely be limited as companies are expected to forecast weaker profits for the next year due to a stronger yen.

The Nikkei share average .N225 is expected to trade at 24,000 at year-end, up over 7 percent from Tuesday's close of 22,389.86, according to the median forecast from 19 analysts and fund managers polled by Reuters in the past week.

The Nikkei is down around 8 percent from its 26-year high hit on Jan. 23. That followed a Wall Street rout, based in part on inflation worries that have boosted yields on the benchmark U.S. 10-year note US10YT=RR to a four-year high.

• China stocks extended losses on Wednesday, with the benchmark Shanghai index recording its worst month since early 2016, as weak factory data rekindled worries about the country’s economic health amid fears of faster rate hikes in the United States.

For the month, Shanghai Composite Index dropped 6.4 percent, its worst monthly fall since January 2016, while CSI300 lost 5.9 percent, its biggest monthly slide since late 2016.

At the close, the Shanghai Composite index was down 1 percent at 3,259.41

• Russia’s stock market is seen posting moderate gains for the rest of 2018, shrugging off the likely re-election of President Vladimir Putin but kept in check by tepid economic growth and geopolitical risks, a Reuters poll found.

Reference: Reuters, CNBC