U.S. crude tumbled below $45 a barrel on renewed demand concerns, as growth in the world’s second-largest economy slows, denting prices for crude.
The euro strengthened as Mario Draghi downplayed the need for more monetary stimulus.The euro strengthened from a three-week low after the European Central Bank President said it’s too soon to pledge additional stimulus.
Weak Chinese manufacturing data torpedoed emerging-market assets.
Equities worldwide are set for the worst quarter in four years. Equities have been volatile in recent weeks, as the Fed’s stimulus policy.
The Standard & Poor’s 500 Index was little changed after rising as much as 0.4 percent and sliding up to 0.5 percent.
Volkswagen AG gained 5.4 percent after closing at its lowest price since 2011 on Tuesday. More than 30 percent was erased from the company’s market value in two days as a scandal over emissions-test cheating escalated.
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