Australia

Australian shares are set to open lower, after US stocks fell sharply across the board.

ASX futures were down 1.16% or 94 points as of 8:00am on Wednesday, suggesting a lower open.

US stocks tumbled after renewed worries about a slowing economy gripped investors, echoing a sharp selloff that rattled global financial markets just a month ago.

Major indexes notched their worst day since 5 August. The S&P 500 shed 2.1% and the Nasdaq Composite fell 3.3%. The Dow Jones Industrial Average lost 1.5%.

In commodity markets, Brent crude oil was down 4.9% to US$73.72 a barrel, while gold was flat at US$2,492.42.

The Australian dollar was at 67.10 US cents, up from its previous close of 67.08.

Asia

Chinese shares closed mixed. The benchmark Shanghai Composite Index slipped 0.3% to 2,802.98, and the Shenzhen Composite Index added 1.1% to 1,530.73.

Hong Kong shares ended lower. The benchmark Hang Seng Index lost 0.2% to 17,651.49.

Japanese shares closed flat. The Nikkei Stock Average was unchanged at 38,686.31.

India shares ended flat. The BSE SENSEX was unchanged at 82,555.44.

Europe

Stocks in the U.K. finished lower. The FTSE 100 Index fell 0.8% to 8,298.46.

In Europe, shares closed lower. Germany's DAX lost 1.0% to 18,747.11, and France's CAC 40 fell 0.9% to 7,575.10.

North America

US stocks ended lower. The DJIA slid 1.5% to 40,936.93, the S&P 500 lost 2.1% to 5,528.93, and the Nasdaq dropped 3.3% to 17,136.30.

Among S&P 500 companies, the top three gainers were Super Micro Computer Inc, surging 3.02%, JM Smucker Co jumped 2.96%, and Church & Dwight Co Inc lifted 2.66%.

The biggest decliners were Boeing Co which dropped 8.05%, Albemarle Corp fell 7.64%, and Freeport-McMoRan Inc lost 6.91%.