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Oil prices sank more than 4% on Wednesday after global demand fears were revived by weak economic data from China and Europe and an unexpected build in U.S. crude inventories.

Owners of donor-advised funds turned on the tap and made hefty grants to their favorite charities, according to data from Schwab Charitable and Fidelity Charitable.

Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.

U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.

When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.

Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis's more than $2-million gene therapy Zolgensma was manipulated.

Ford Motor Co said on Wednesday it is extending warranty on clutch and related hardware in certain of its Focus and Fiesta cars due to complaints related to the vehicles' transmission from several customers.

U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.

Federal Communications Commission Chairman Ajit Pai on Wednesday circulated a draft order that would grant approval to the $26 billion tie-up of T-Mobile Us Inc and Sprint Corp.

Goldman's first credit card is "highly sensitive" to rising net charge offs, and the bank will begin to lose money if losses reach about 8%, Carcache wrote.

Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said.

WeWork owner The We Company on Wednesday published detailed financial statements for the first time, showing it lost more than $900 million in the first half of 2019 while revenue doubled, as it steps up preparations for an initial public offering next month.

Novartis said on Wednesday that the chief science officer and top research and development executive at its Avexis unit are no longer at the company after some data from early testing of the unit's more than $2 million gene therapy Zolgensma was manipulated.

According to a new survey, 75% of teens have made purchases in cash and 80% who get money from their parents are paid in cash.

Macy's Inc Chief Executive Officer Jeff Gennette said on Wednesday that the department store chain would not raise prices on products if the Trump administration goes ahead with its latest 10% tariffs.