US shares rebounded from steep early losses on Wednesday, lifted in part by energy companies. The three leading market indexes opened down more than 1%, following reports of weaker than expected manufacturing activity in China.
But the indexes later rallied. The Dow Jones and S&P 500 closed up about 0.1%, while the Nasdaq gained about 0.5%. European markets followed a similar path. In London, the FTSE 100 closed up about 0.1%.
ExxonMobil and Chevron were some of the day's top gainers on the Dow, following reports suggesting Saudi Arabia was taking steps to cut oil supply.