Markets Hold Their Nerve as the U.K. Raises the Terror Threat Level

Much of the market's attention will center on the developing security situation in the U.K.
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Here is your round-up of the financial news from around the world:

1. European stocks drift lower Wednesday following a downbeat session in Asia in which investors appeared to focus on global oil and currency markets ahead of this week's OPEC meeting in Vienna and minutes from the Federal Reserve's last rate meeting later today.

2. Much of the market's attention will center on the developing security situation in the U.K., where Prime Minister Theresa May increased the terrorist threat level to "critical" last night and warned that a new attack could be imminent.

3. China stocks fell and the yuan weakened Tuesday after Moody's Investors Service lowered the credit rating for the world's second-largest economy amid concerns for rising debt levels and slowing growth.

4. The U.S. dollar notched a notable mini-rally overnight, with the dollar index rising to 97.41, as investors reacted to the release of President Donald Trump's budget plans.

5. Marks & Spencer Group plc (MAKSY) posted stronger-than-expected full year profits and maintained its dividend but cautioned on an "uncertain" outlook in the months ahead.

This article was written by a staff member of TheStreet.