Here are some of the key stories CNBC is following this hour:
Senate Democrats pulled another all-nighter, this time to highlight their opposition to Sen. Jeff Sessions nomination to be attorney general. The senate vote on Sessions is expected to occur this evening.
Seattle has become the first major city to cut financial ties with Wells Fargo over the bank's involvement in financing the Dakota Access pipeline project. In a unanimous vote on Tuesday, city council members agreed to divest $3 million from the bank. The vote prompted chants from crowds packing the council chambers.
A Russian court has found opposition leader Alexei Navalny guilty in the retrial of his 2013 fraud case, disqualifying him to run for president next year. Navalny was found guilty of embezzling timber worth about $270,000 and was given a five-year suspended sentence.
A sinkhole has opened up near Australian Prime Minister Malcolm Turnbull's home in an exclusive Sydney suburb after heavy rain pummeled the region on Tuesday. Police cordoned off the area, less than a mile from the Turnbull residence.