• The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers. Still, many traders believe the inversion won't be official until the 2-year yield rises above the 10-year yield, which has not happened yet.

• Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy "is poised to weaken."

• US stock markets are closed Wednesday as the nation mourns the death of the 41st president George Bush (senior) who died aged 94.

• U.S. stock index futures fell after resuming trading late on Wednesday, on jitters after the previous session’s dramatic sell-off and lingering worries over trade and economic growth.

Skepticism about prospects for a trade deal was a key reason behind Tuesday’s decline. But China expressed confidence on Wednesday it could reach a deal, a sentiment echoed by U.S. President Donald Trump a day after he warned of more tariffs if the two sides could not agree.

• Worries about U.S. bond markets signaling an impending recession, and a still rumbling trade war between the world’s top two economies, saw European shares sink further on Wednesday after a 3 percent drop on Wall Street the previous day.

The pan-European STOXX 600 ended down 1.2 percent at its lowest level since Nov. 23. The euro zone .STOXXE stock index and Germany's DAX .GDAXI also fell 1.2 percent. U.S. stock markets were shut on Wednesday for a day of mourning in honor of former president George H.W. Bush who died last week.

• Stocks in Asia slipped during Thursday morning trade, continuing a decline in markets worldwide ahead of a closely watched meeting by the Organization of the Petroleum Exporting Countries (OPEC).

Japan’s Nikkei 225 fell 1.27 percent in its first hour trade while the Topix index declined by 1.17 percent. South Korea’s Kospi also shed 0.47 percent, as shares of industry heavyweight Samsung Electronics dropped more than 1.3percent.

Reference: Reuters, CNBC, Proactive Investors