Markets have been choppy in recent sessions with speculation over when the U.S. central bank could next raise interest rates keeping investors on edge.
Comments from major investors at the CNBC/Institutional Investor's Delivering Alpha conference added fuel to an already sour mood seen in markets, with LMM chief investment officer, Bill Miller saying he'd recommend shorting the 10-year note, and Elliott Management's president, Paul Singer said the long end of the bond market was a bubble and Treasurys and other developed market bonds are not safe havens.
Meanwhile, crude futures tried to recover after Tuesday's slide on Wednesday. Prices briefly rose in early trade after data by the American Petroleum Institute showed a smaller-than-expected build in U.S. crude stockpiles.
U.S. West Texas Intermediate last stood around $43.63 per barrel, while Brent hovered around $45.94 a barrel.
Futures briefly bounced back after the U.S. Energy Information Administration reported U.S. commercial crude inventories fell by 559,000 barrels to a total of 510.8 million barrels in the week through Sept. 9.
Analysts expected EIA to cite a build of 3.8 million barrels in domestic crude stockpiles. U.S. crude inventories fell by 14.5 million barrels in the previous week to Sept. 2, the biggest weekly drawdown since 1999 as imports to the Gulf Coast hit a record low.