Meanwhile, Asian shares slipped in cautious trading Wednesday, shrugging off a rally on Wall Street led by technology companies and banks that erased most of the losses from the previous day's sell-off. Japan's benchmark Nikkei 225 sank 1.3% in afternoon trading to 27,470.09. South Korea's Kospi dipped 1.4% to 2,919.87. Australia's S&P/ASX 200 shed 0.6% to 7,206.50. Hong Kong's Hang Seng was little changed inching down less than 0.1% to 24,093.07. Trading was closed in Shanghai for the Chinese national holidays.

  • The lingering pandemic and global supply chain problems prompted the International Monetary Fund to trim its forecast for global growth this year.
  • "On the risks front, China credit problems and contagion risks have certainly not abated with developer concerns still surfacing. 
  • Energy trading, benchmark U.S. crude added 8 cents to $79.01 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.31 to $78.93 per barrel on Tuesday. Brent crude, the international standard, rose 9 cents to $82.65 a barrel.