Stock futures are surging after the Fed signaled interest rate cuts may begin as early as July.US Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."Technologyread more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Workplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a "direct listing"--is slightly different than an IPO.Trader Talk with Bob Pisaniread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The Philadelphia Federal Reserve's manufacturing gauge tumbled this month, solidifying the Fed's case for easier monetary policy.Economyread more
Declining traffic to Olive Garden, Darden's top restaurant chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter.Restaurantsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
European markets closed lower Wednesday, amid elevated concerns of a tit-for-tat trade war between the world's biggest economies.
The pan-European Stoxx 600 closed 0.47 percent lower provisionally, with almost all sectors and major bourses in negative territory.
China announced additional tariffs on 106 U.S. products on Wednesday, less than 24 hours after President Donald Trump unveiled charges on a list of Chinese imports. Trump revealed plans for a 25 percent tariff on some 1,300 industrial technology, transport and medical products in retaliation for what the U.S. administration alleged had been decades of state-backed intellectual property theft by Beijing.
In response, China announced a 25 percent levy on U.S. imports which includes products such as soybeans, cars and whisky.
Looking at individual stocks, WPP was closed 2 percent lower after the advertising giant said it was investigating CEO Martin Sorrell over "an allegation of personal misconduct." WPP's board appointed an independent counsel to investigate Sorrell, the company told CNBC. The ongoing investigation doesn't appear to be material to the business, the company's statement said.
Elsewhere, Swiss Re said Wednesday that talks with SoftBank over a minority stake of no more than 10 percent in the reinsurance giant were continuing "at an early stage, " according to a Reuters report. Shares of Swiss Re were more than 3.8 percent lower on the news.
On Wall Street, stocks plunged at the open following China's proposed countermeasures, with the Dow Industrial Average Index falling more than 500 points. Stocks pared losses later in the day, with the Nasdaq turning positive.