The European markets opened lower on Wednesday as US debt ceiling negotiations weighed heavy on market sentiment. The British FTSE was last trading 0.4 percent lower. French CAC was last trading 0.5 percent lower. The biggest European market by volume, German DAX was last trading 0.1 percent lower.

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The Wall Street indices ended lower on Tuesday. Dow Jones Industrial Average ended one percent lower, while S&P ended 0.6 percent lower and Nasdaq Composite ended 0.2 percent lower.

The European markets are also taking cues from their Asian counterparts. Asian markets traded mixed on Wednesday. Japan's Nikkei was last trading 0.8 percent higher. Hong Kong Hang Seng was down 2.2 percent. China's Shanghai Composite was last trading 0.2 percent lower.

Crude oil prices eased on Wednesday. At the last count, brent crude futures were trading 0.9 percent lower at $74.2 a barrel. US West Texas Intermediate futures, too, were trading a percent in the red at $70.2 per barrel.

The Indian markets extended losses on Wednesday. At the last count, the Nifty 50 index was trading near 18,120, and Sensex was trading 550 points lower.

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First Published:May 17, 2023 1:22 PM IST