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• U.S. stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day’s lows as investors snapped up beaten-down shares late in the session.
Along with worries over profit growth, concerns over the upcoming U.S. mid-term elections and Italy’s budget have also sent investors scrambling out of stocks.
• The Dow Jones Industrial Average fell 125.98 points, or 0.5 percent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 percent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 percent, to 7,437.54.
The S&P 500 has declined for five straight sessions and is now down 6.5 percent from its record closing high on Sept. 20.
The Nasdaq again flirted with correction territory, falling more than 10 percent from its Aug. 29 record closing high before paring losses to end off those levels.
• U.S. company earnings growth is slowing after a bumper start to the year, and the reality of an escalating trade war between two of the world’s largest economies is starting to weigh on companies ranging from Caterpillar Inc to Ford Motor Co.
• Spooked by fears of a slowing Chinese economy and the effects of tariffs after weak quarterly reports from Caterpillar Inc and 3M Co, the benchmark index fell 0.55 percent on Tuesday, bringing its drop since a Sept. 20 record high close to nearly 7 percent.
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• Asian shares slumped on Tuesday as a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to fresh worries about trade wars whacked sentiment across the region.
Selling in Asia erased gains made in rally of the previous two sessions, which were led by China stimulus hopes, with the MSCI's broadest index of Asia-Pacific shares outside Japan dropping 2.2 percent. Declines in many regional benchmark indexes also exceeded 2 percent.
European shares are likely to come under pressure with France's CAC and Germany's DAX set to pierce their 2018 lows. Spread-betters see CAC falling 0.6 percent and Dax 0.9 percent. Britain's FTSE is seen falling 0.5 percent.
South Korea's Kospi and Hong Kong's Hang Seng both fell 3 percent while Japan's Nikkei lost 2.7 percent. MSCI's index for the region including Japan hit the lowest level since May 2017.
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• Asian stocks edged up on Wednesday as a late round of buying helped Wall Street indexes pare most of their earlier panic-driven losses, although crude oil struggled near two-month lows after Saudi Arabia flagged possible supply increases.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent following a decline of more than 2 percent the previous day.
Japan's Nikkei 225 gained 0.3 percent in early trade while the Topix index advanced by 0.14 percent.
Over in South Korea, the Kospi rose by 0.41 percent, despite major names like Samsung Electronics and SK Hynix seeing early losses. Samsung shares slipped by 1.16 percent while SK Hynix fell by 2.89 percent.
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