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European stocks on Tuesday leapt to their highest level in nearly two weeks, as Deutsche Bank AG shares resumed their recovery, while British blue-chips got a boost from the pound's drop. Deutsche's stock was dragged sharply lower last week on concerns the lender will face a $14 billion settlement with the U.S. Department of Justice over claims it sold toxic mortgage-backed securities. But shares have recovered somewhat in the wake of reports that the actual penalty won't be as severe.
U.S. stocks on Tuesday finished in the red in the wake of a report that the European Central Bank could start winding down its quantitative-easing program ahead of schedule. The ECB may gradually scale back its bond purchases of 80 billion euros ($89.7 billion) a month before the program's scheduled March 2017 conclusion, Bloomberg reported, citing anonymous eurozone central-bank officials.
Asian shares were mixed on Wednesday, reflecting renewed investor concerns the U.S. Federal Reserve would raise interest rates by the year's end. The weakness in other Asian markets followed comments overnight by a Fed official stating that the central bank should pre-emptively raise short-term interest rates to stave off accelerating inflation.
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