European stock markets suffered broad-based losses on Tuesday as an unexpected plunge in German manufacturing orders and worries about global growth hurt sentiment.

U.S. stocks tumbled Tuesday, logging a second day of losses as fears about global economic health dogged the market and fueled selling in traditionally riskier assets.

Asian stocks swung between gains and losses, after the regional benchmark index dropped to a one-month low, as energy companies surged with a rebound in oil while utilities slid. U.S. crude solidified its rebound, climbing a second day as concern eased over a prospective deal among producers to freeze output. Contracts for May delivery climbed as much as 2.5 percent on Wednesday.

Based on MarketWatch materials