European and Asian stocks down

European and Asian stocks dropped on Wednesday following a rout on Wall Street, though declines were contained and U.S. equity futures rose after China pledged to start delivering on trade agreements reached with America. The dollar ticked higher.

Global markets have been left reeling after Tuesday’s steep selloff in New York, but nerves appear to be steadying after China’s Commerce Ministry said Beijing will start to quickly implement specific items where there’s consensus with the U.S. and will push forward on trade negotiations within the 90-day “timetable and road map.” While the Stoxx Europe 600 Index slumped as much as 1.2 percent, that was far less than the 3.2 percent plunge recorded by the S&P 500 a day earlier.

Stocks fell in Japan, Korea, Australia and Hong Kong, and China’s yuan gave up some of its recent surge. The pound fluctuated as investors await the publication of legal advice on Prime Minister Theresa May’s Brexit deal, following a brutal day for the government in Parliament.

Futures on the S&P 500 Index gained 0.5 percent as of 10:41 a.m. London time. The Stoxx Europe 600 Index sank 0.8 percent to the lowest in more than a week on the biggest dip in more than two weeks. The U.K.’s FTSE 100 Index decreased 1.1 percent to the lowest in almost six weeks on the largest dip in almost two weeks. Germany’s DAX Index decreased 0.8 percent to the lowest in more than a week. The MSCI Asia Pacific Index sank 1.1 percent to the lowest in a week on the largest tumble in more than two weeks. The MSCI Emerging Market Index sank 1.2 percent, the biggest tumble in more than two weeks.

West Texas Intermediate crude declined 0.1 percent to $53.19 a barrel. Gold declined 0.2 percent to $1,235.80 an ounce, the biggest drop in more than a week.

This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.