Shares in Kobe Steel fell as much 4.7 per cent on Wednesday after the company revealed it was under investigation by Japanese authorities over a data fabrication scandal.

Turkey’s central bank is broadly expected to lift a key interest rate on Wednesday with policymakers balancing rapid inflation and a tumble in the lira against President Erdogan’s preference for strong economic growth.

Republicans held on to a US House of Representatives seat in Arizona’s eighth district on Tuesday night after Republican Debbie Lesko beat Democratic opponent Hiral Tipirneni in a special election.

Wynn Macau shares slipped on Wednesday after its parent Wynn Resorts said it had swung to a loss in the first quarter.

Shares in one of China’s biggest carmakers tumbled on Wednesday after the company announced a fresh capital raise.

Australia’s foreign minister has said admiral Harry Harris, the commander of US forces in the Pacific, is set to become to become US ambassador to South Korea and not Australia as previously planned.

Asia Pacific equities were broadly lower on Wednesday after Wall Street came under pressure from rising bond yields and doubts about earnings growth, which helped push the S&P down 1.3 per cent by the close of trading.

LG Display shares fell to their lowest level in nearly two years on Wednesday after the display unit of the South Korean electronics giant reported its first quarterly loss since June 2016. 

Pharmaceuticals group Takeda slumped as much as 9 per cent on Wednesday after Irish drugmaker Shire said it was willing to recommend a revised takeover proposal from the Japanese company.

Irish drugmaker Shire said its board is willing to recommend to shareholders a revised takeover proposal from Takeda Pharmaceutical that values the company at about £49 per share.

French president Emmanuel Macron has pledged to work with the US to contain Iran, hours after Donald Trump issued a tough warning against Tehran restarting its nuclear programme even if the US pulled out of an existing multi-party accord.

The Commodity Futures Trading Commission criticised intentional defaults in relation to credit default swap agreements on Tuesday, warning that they could “constitute market manipulation”.

Amgen, the world’s largest biotech company, saw revenue inch higher in the first three months of 2018, with strong growth for recently launched products like its Repatha cholesterol medication softening a decline in sales of some of its more established ones.

Japan’s Takeda Pharmaceuticals is nearing a preliminary agreement to acquire Irish drugmaker Shire for more than $62bn, in what would be the largest deal in sector this year, said people familiar with the matter.

Casino operator Wynn Resorts posted better-than-expected adjusted earnings in the first quarter following gains at its Macau properties.

US chipmaker Texas Instruments posted solid double-digit growth in both sales and profit in the first three months of 2018, citing strong demand for its products in the industrial and automotive markets.

US equities ended Tuesday deep in the red for their biggest one-day fall since April 6, with tech and industrial stocks proving the biggest laggards, while US Treasury yields ended just shy of the 3 per cent milestone they crossed earlier in the day for the first time since 2014.

A slim gain for soyabean futures has helped them avoid their longest losing streak this year, but the crop is still struggling against the broader backdrop about waning demand from China.

3M shares have peeled back easier than their ubiquitous Post-it notes and are on track for one of their biggest one-day drops in decades after the company dialed back its earnings forecasts for the year.

Wells Fargo avoided a widespread revolt at an at-times heated annual meeting on Tuesday, although a sizeable minority of investors in the scandal-hit US bank voted in favour of two shareholder motions that the board opposed.

Strong demand for energy from Brazil and improved tariffs in the US more than offset foreign exchange headwinds to help Spain’s Iberdrola top expectations for its first quarter results.

Get your tin hats on. The markets sell-off that began around midday is quickly gathering steam.

Shares of Freeport-McMoran were down more than 14 per cent on Tuesday after the company flagged further problems at its giant Indonesian gold and copper deposit

The UK government is close to completing the sale of £5bn worth of mortgages from collapsed British banks to bond fund Pimco.