US equities fell sharply on Tuesday amid general commodity weakness, a Eurozone growth downgrade and a further contraction in Chinese manufacturing. The DJIA fell 0.78%, the S&P 500 lost 0.87% and the NASDAQ gave up 1.13%.
Energy was the biggest loser (-2.2%) followed by materials (-1.7%) and financials (-1.3%).
Asian markets open on the backfoot, after U.S. stocks fell overnight amid renewed global growth concerns and as oil prices lost ground.
"Equity market sentiment seems to be rolling over globally as the wind begins to come out of the oil price rally," said Angus Nicholson, market analyst at spreadbetter IG, in a note Wednesday.
Oil prices retreated overnight, with U.S. crude futures settling down 2.5 percent at $43.65 a barrel, while Brent futures settled down 1.9 percent at $44.97.
Reference: CNBC, MKS Group, Forex Factory
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