A Quick Glance at News

v European (SXXP) stocks slid, following yesterday’s advance, after Federal Reserve Bank of Philadelphia President Charles Plosser said that the third round of bond buying may fail to stimulate growth or hiring. U.S. index futures were little changed, while Asian shares fell.

v Gold advanced for the first time in three days, extending the best quarterly gain in more than two years, as central banks and investors bought the metal to hedge against the prospect of weaker currencies and slowing growth.

v Spanish Prime Minister Mariano Rajoy’s dispute with the leader of his country’s richest region erupted into the newest front of Europe’s effort to extinguish the financial crisis.

v The foreign ministers of China and Japan met in New York for the second time this month in an attempt to ease rising tensions over a territorial dispute that is hurting trade between Asia’s two biggest economies.

v Stocks (MXWD) slid, the euro weakened, and oil dropped toward a two-month low amid skepticism global stimulus will revive growth before reports expected to show the debt crisis’ deepening economic impact.

v Japan’s biggest manufacturers probably grew more pessimistic this quarter as China’s slowdown and Europe’s crisis sapped exports, putting pressure on the central bank to add to this month’s surprise monetary stimulus

v Australia’s four biggest lenders are divided over whether Reserve Bank Governor Glenn Stevens and his board will resume reductions next week in the highest benchmark interest rate among major developed nations

v Oil fell to the lowest level in seven weeks after a report showed rising U.S. stockpiles and the Federal Reserve Bank of Philadelphia President Charles Plosser said a new stimulus plan probably won’t boost economic growth.

v The S&P 500 suffered its worst day since June on Tuesday, pulled lower by Caterpillar Inc (CAT.N) after it cut its profit outlook, the latest high-profile company to warn about profit growth.

v Technology shares came under pressure after a second day of weakness for Apple Inc (AAPL.O), the world's most valuable public company. Shares fell 2.5 percent to $673.54 as the company sold out of its initial supply of the new iPhone, raising concerns about keeping up with demand.

v Caterpillar, the heavy equipment maker, said on Monday sluggish global growth was responsible for reduced estimates. Other companies to recently cut expectations include FedEx Corp (FDX.N) and Norfolk Southern (NSC.N).

v Red Hat (RHT.N) dropped 4.3 percent to $55.08 after the world's largest distributor of Linux operating software reported a lower-than-expected adjusted profit and lowered the top end of its full-year revenue outlook.

v Iran condemned the planned removal of the Iranian dissident group Mujahadin-e Khalq (MEK) from the United States' list of terrorist organizations, Iranian media reported on Wednesday

v Brent crude slipped below $110 per barrel on Wednesday, weighed down by worries that a fragile global economy could hit demand, although the risk of disruptions to supply from rising tensions between Iran and Western nations kept losses in check.