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- Nobel winners hope protein work will spur 'incredible' breakthroughs
- What are proteins again? Nobel-winning chemistry explained
- Arch rivals Ghana, Nigeria drawn together in CHAN qualifying
- AI steps into science limelight with Nobel wins
- Trump lauds India's Modi as 'total killer'
- Wall Street, Europe rise as Chinese shares tumble
- Hunkering down for Hurricane Milton at Disney -- but first, a few rides
- Reddy, Rinku power India to 221-9 in second Bangladesh T20
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Time running out in Florida to flee Hurricane Milton
- Demis Hassabis, from chess prodigy to Nobel-winning AI pioneer
- The long walk for water in the parched Colombian Amazon
- Biden-Netanyahu to talk as Hezbollah, Israeli forces clash
- France vows to step up drugs fight after police vehicles torched
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- Activists target Picasso work to protest Israel arms sales
- Let 'Emily in Paris' remain in Paris, Macron says
- Global stocks diverge as Chinese shares tumble
- Time runs out in Florida to flee Hurricane Milton
- Chad issues warning ahead of more devastating floods
- Record-breaking Root helps England dominate Pakistan in first Test
- German govt sees economy shrinking again in 2024
- Ex-UK soldier denies passing secrets to Iran intelligence
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- Three Kosovo Serbs on trial over 'secession plot' attack
- Van Gogh museum to launch Impressionism show
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- Japan PM calls snap election to 'create a new Japan'
- German police shut pro-Palestinian camp over Thunberg invite
- Chinese stocks tumble on lack of fresh stimulus
- Trio wins chemistry Nobel for protein design, prediction
- SE Asian summit urges end to Myanmar violence but struggles for solutions
- Wimbledon replaces line judges with electronic system
- Record-breaking Root hits hundred as England power to 351-3
- Record-breaking Root hits hundred as England's power to 351-3
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- Liverpool goalkeeper Alisson set for six weeks out
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- Jurgen Klopp to return as head of Red Bull football operations
US stocks finish lower as rally fades; European bourses rise
Wall Street stocks finished lower Wednesday after a rally that lifted European and Asian bourses petered out amid lingering unease following recent turbulence.
Major US indices began the session solidly higher following a trend in Paris, Frankfurt, Tokyo and other exchanges as the Bank of Japan issued a dovish signal it will not further hike interest rates amidst market volatility.
But the S&P 500 and other major US indices tumbled into the red after midday, with analysts pointing to a poorly received US Treasury bond auction as a catalyst for further selling after Monday's rout.
"This is what happens when you have a big risk-off type of event," Steve Sosnick, of Interactive Brokers, said of Monday's equity market plunge. "It's normal to see the market display uncertainty."
Major Wall Street indices sank more than 2.5 percent on Monday amid worries over a potential US recession and the unwinding of the so-called "carry trade" that took advantage of the weak yen prior to last week's interest rate hike by the Bank of Japan.
Stocks rebounded somewhat on Tuesday, but many analysts expect more effects from the unwinding, extending a period of volatility.
"This volatility is typical of more prolonged and chaotic market downturns, which could prompt investors to adopt a cautious stance, hold on tight, and keep the antacids ready," said independent analyst Stephen Innes.
BoJ deputy governor Shinichi Uchida earlier Wednesday sought to allay fears of further interest rate hikes, indicating that the central bank would not raise them further during a period of high market volatility.
This dovish signal on rates sparked a nearly two percent drop in the yen, while the Tokyo stock market closed up 1.2 percent.
The retreat in the yen "should take some pressure off those still exposed to the yen carry-trade, of which there are still significant numbers," said Trade Nation analyst David Morrison.
Elsewhere, Oil prices climbed more than two percent on Middle East tensions, supply constraints in Libya and weekly data pointing to a drop in US crude inventories.
Among individual companies, Disney fell 4.5 percent despite reporting better than expected earnings as investors digested commentary that a weakening of demand in the parks business "could impact the next few quarters."
Airbnb slumped 13.4 percent after reporting lower than expected profits and cautioning of "some signs of slowing demand from US guests."
- Key figures around 2030 GMT -
New York - Dow: DOWN 0.6 percent at 38,763.45 (close)
New York - S&P 500: DOWN 0.8 percent at 5,199.50 (close)
New York - Nasdaq Composite: DOWN 1.1 percent at 16,195.81 (close)
London - FTSE 100: UP 1.8 percent at 8,166.88 (close)
Paris - CAC 40: UP 1.9 percent at 7,266.01 (close)
Frankfurt - DAX: UP 1.5 percent at 17,615.15 (close)
EURO STOXX 50: UP 2.0 percent at 4,668.88 (close)
Tokyo - Nikkei 225: UP 1.2 percent at 35,089.62 (close)
Hong Kong - Hang Seng Index: UP 1.4 percent at 16,877.86 (close)
Shanghai - Composite: UP 0.1 percent at 2,869.83 (close)
Dollar/yen: UP at 146.83 yen from 144.34 yen on Tuesday
Euro/dollar: DOWN at $1.0925 from $1.0931
Pound/dollar: UP at $1.2692 from $1.2691
Euro/pound: DOWN at 86.06 pence from 86.13 pence
Brent North Sea Crude: UP 2.4 percent at $78.33 per barrel
West Texas Intermediate: UP 2.8 percent at $75.23 per barrel
burs-jmb/des
O.Karlsson--AMWN