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• Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters on Wall Street.

The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points.

The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500, plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent.

The Nasdaq Composite dropped 3.8 percent to close back in correction territory at 7,158.43. The Russell 2000, which tracks small-cap stocks, dropped 4.4 percent to 1,480.75, marking its worst day since 2011. Trading volume in U.S. stocks was also higher than usual on Wall Street.

• The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers. Still, many traders believe the inversion won't be official until the 2-year yield rises above the 10-year yield, which has not happened yet.

• Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy "is poised to weaken."

• US stock markets are closed Wednesday as the nation mourns the death of the 41st president George Bush (senior) who died aged 94.

• U.S. stock index futures fell after resuming trading late on Wednesday, on jitters after the previous session’s dramatic sell-off and lingering worries over trade and economic growth.

Skepticism about prospects for a trade deal was a key reason behind Tuesday’s decline. But China expressed confidence on Wednesday it could reach a deal, a sentiment echoed by U.S. President Donald Trump a day after he warned of more tariffs if the two sides could not agree.

• Worries about U.S. bond markets signaling an impending recession, and a still rumbling trade war between the world’s top two economies, saw European shares sink further on Wednesday after a 3 percent drop on Wall Street the previous day.

The pan-European STOXX 600 ended down 1.2 percent at its lowest level since Nov. 23. The euro zone .STOXXE stock index and Germany's DAX .GDAXI also fell 1.2 percent. U.S. stock markets were shut on Wednesday for a day of mourning in honor of former president George H.W. Bush who died last week.