European stocks erased earlier gains and closed in negative territory for a third straight day on Wednesday as a selloff in oil and metals pushed commodity companies lower.

U.S. stocks ended lower Wednesday as crude futures suffered their worst percentage decline in a month, which hammered energy and materials shares and dragged down the main stock indexes.

Asian shares slipped Thursday after the U.S. dollar strengthened against regional currencies. The dollar gained overnight against a basket of major currencies after St. Louis Federal Reserve Bank President James Bullard suggested there was a chance that interest rates could be raised in April.

Based on MarketWatch materials