Barclays is facing a loss of as much as £15 million after a bond trader was caught out by a sharp drop in the value Turkish lira and domestic assets, according to a person briefed on the matter.

Gold continued to prove that it has become one of the least-favoured haven assets as the precious metal fell to its lowest since early January 2017 on Wednesday in the face of US dollar strength.

Mining stocks hit two-year lows as a strong dollar loaded pressure on metals prices, which dragged the FTSE 100 to its lowest close since April. Miners such as BHP Billiton were hit hardest as weak Chinese data and spillover effects from Turkey’s currency crisis combined with reports that a strike might be averted at the world’s biggest copper mine, owned by BHP.

Ankara declared that Qatar had offered it billions of dollars of support as it seeks to emerge from a crisis affecting the Turkish lira.

Shares in US video game makers sank on Wednesday, following Asian counterparts lower amid media reports that authorities in China, the world’s biggest gaming market, had halted approvals for new mobile games as the sector undergoes a broader bureaucratic overhaul.

Investors are digging into Chipotle on Wednesday, sending the fast-casual burrito chain’s shares to a two-and-a-half year high after receiving an upgrade from Morgan Stanley in hopes that its turnround is off to a solid start.

The price of Italian government bonds dropped sharply on Wednesday afternoon in a renewed bout of selling amid wider woes for risk assets.

Condé Nast is to integrate the international and US teams that produce Condé Nast Traveller, one of its most popular titles, as it grapples with an uncertain environment for print magazines and the evolution to digital publishing.

A widely watched measure of the yield curve briefly dipped to a new decade low on Wednesday morning, as the fallout from Turkey’s escalating economic crisis ricocheted around the world.

The owners of Lebara missed a deadline to inject equity into the European telecoms company on Tuesday, putting it at risk of falling foul of strict conditions its bondholders imposed last month.

An unexpected increase in US crude inventories sent oil prices to their lowest point in months on Wednesday morning.

Wall Street was down more than 1 per cent in morning trade, putting it on track for its biggest one-day drop in almost two months as emerging market concerns weigh on investor sentiment.

US industrial production eked out a slight advance in July, though the pace of expansion cooled from the solid gain posted a month before.

Turkey is to free a prominent human rights activist after than more than 14 months in jail, a day after the country moved to ease relations with neighbouring Greece by releasing two Greek soldiers held on spying suspicions.

Wall Street looks set to slide at the open, with futures lower after Chinese stocks fell more than 2 per cent and investors kept a watchful eye on developments in emerging markets.

US retail sales picked up in July from a month ago, underlining the strength of consumer confidence and spending in light of solid economic growth and low unemployment.

Macy’s dropped in pre-market trade on Wednesday despite lifting its full-year sales guidance against a backdrop of strong US economic growth and consumer spending.

Corona beer maker Constellation Brands doubled down on its bet on the budding marijuana industry, pumping just under $4bn into a Canadian group that has sought to capitalise on the spreading legalisation of weed.

Turkey’s lira pushed higher for the second day in a row, after the country’s banking regulator sought to freeze foreign accounts out of selling the hobbled currency and making bets against it.

Shares in Naspers, the South African media group that owns nearly a third of Tencent, fell as much as 10 per cent after the Chinese internet giant posted a dip in profits.

Tencent delivered a rare drop in net profit — almost unheard of for China’s tech titans — as the company’s cash engine of gaming was dented by a bureaucratic revamp that has effectively frozen licensing of new games since March.

Chinese airline-to-finance conglomerate HNA has used a property in an exclusive Hong Kong residential district as collateral for a loan, in the latest sign of the group’s difficulty in accessing cash. 

UK house price growth slowed in June, driven by the sustained fall in London property prices, according to the Office for National Statistics.

Copper prices fell to their lowest level in over a year on Wednesday, as the emerging market sell-off boosted the dollar and raised concerns about a hit to global economic growth.