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· October, historically the most volatile month of the year for stocks, is already living up to its name.

Stocks, along with bonds and the dollar, dropped on Tuesday after that weak manufacturing report fueled worries over the U.S. economy. However, stocks could turn around on hopes that a meeting between the U.S. and China next week could improve the trade deal outlook.

· Global shares fell to one-month lows on Wednesday after U.S. manufacturing activity tumbled to more than a decade low, sparking worries that the fallout from the U.S.-China trade war is spreading to the U.S. economy.

MSCI’s gauge of stocks across the globe .MIWD00000PUS, covering 49markets, dipped 0.06% to a low last seen in early September, after shedding 0.83% in the previous session.

In Asia, MSCI's ex-Japan Asia-Pacific shares index .MIAPJ0000PUS dropped 0.6%, with Australian shares falling 1.3% and South Korean shares shedding 1.5%. Japan's Nikkei .N225 slid 0.4%. China markets are closed for a one-week holiday.

· Japanese shares fell on Wednesday after manufacturing activity in the United States contracted by the most in more than a decade, offering further evidence that the U.S.-China trade war is slowing global growth.

The Nikkei average share price index ended down 0.49% at 21,778.61.

· European stocks traded lower Wednesday morning, after unexpectedly weak U.S. manufacturing activity stoked worries over the world’s largest economy.

The pan-European Stoxx 600 fell 0.7% early in the session, with basic resources stocks shedding 1.6% to lead losses as most sectors and major bourses slipped into the red. The travel and leisure bucked the trend to climb 0.7%.

The moves in early trade came as investors reflected on weaker-than-anticipated economic data and awaited the British government’s revised Brexit proposals.

U.S. manufacturing activity tumbled to lows not seen in over a decade, data published Tuesday showed, aggravating worries about a long-running trade dispute between Washington and Beijing.

Back in Europe, British Prime Minister Boris Johnson is expected to unveil his final Brexit offer to the European Union on Wednesday.

· European companies are heading for their worst quarterly earnings in three years as revenue drops for the first time since early 2018, according to the latest Refinitiv data, underscoring concerns about Europe Inc’s deteriorating health.

Companies listed on the STOXX 600 regional index are expected to report a 2.2% drop in third-quarter EPS, worse than the 1.9% drop expected a week ago and the biggest quarterly fall since Q3 2016, according to I/B/E/S Refinitiv.

Reference: Reuters, CNBC