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UK Finance Minister Rishi Sunak has resigned, along with Health Secretary Sajid Javid, as Prime Minister Boris Johnson found himself engulfed in yet another scandal over the behaviour of Conservative MPs.
All eyes on Wednesday will be on the minutes of the US central bank's last policy meeting and any information that can be gleaned from them regarding the outlook for monetary policy.
European shares reeled on Wednesday, surrendering early gains as global recession worries supplanted the positive mood among investors early on thanks to reports that the US could ease tariffs on China.
Wall Street stocks were firmly in the red early on Tuesday as the US dollar rallied against the Euro and recession fears returned to the forefront of investors' minds.
Companies offering cryptoasset-related services happily welcomed the news that the three institutional bodies of the European Union (EU), the European Parliament, Commission and Council reached an agreement on the text of the proposed cryptocurrency market regulation. The landmark cryptoasset markets legislation (MiCA) will introduce licensing of cryptocurrency companies and safeguards for their customers and the industry has been favorable to the measure which, however, contains controversial points for users such as the taxation of self-hosted wallets.
European shares turned lower mid-morning, surrendering early gains after a positive session in Asia overnight amid suggestions that the US could ease tariffs on China.
The euro fell to a 20-year low against the dollar on Tuesday as investors scaled back expectations for more aggressive tightening by the European Central Bank.
