European stock markets rose for the first time in four sessions on Tuesday, aided by a round of well-received earnings reports, including results from oil giant BP PLC and telecom company Orange SA.

U.S. stocks closed mixed Tuesday as caution prevailed ahead of a barrage of tech earnings and an updated policy statement from the Federal Reserve. Tech stocks, many of them so-called momentum names which posted double-digit gains last year, have largely lagged behind the broader market this year, said Kent Engelke, chief economic strategist at Capitol Securities Management Inc.

Asian stocks were subdued on Wednesday, as investors stayed cautious ahead of U.S. and Japanese central bank policy decisions, while crude oil prices hovered near 2016 highs. Japan's Nikkei lost 0.6 percent as Japan-based suppliers of iPhone parts fell after Apple Inc reported its first-ever decline in iPhone sales and its first revenue drop in over a decade overnight.

Based on MarketWatch materials