Draghi says ECB will be cautious in adjusting stimulus effor

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The pan-European FTSEurofirst 300 index.FTEU3 lost 0.69 percent and MSCI's gauge of stocks across the globe.MIWD00000PUS shed 0.22 percent.

The tech sector has been the stalwart of the US stock market, rising about 17 percent for the year. The euro leaped 0.9% against the dollar to $1.1284, while eurozone government bond yields also rose sharply.

APPETIZING RESULTS: Darden Restaurants rose 3.3 percent after the chain reported earnings that were better than analysts expected.

Stock movers: ABN Amro fell 2.3% after the Dutch government cut its stake in the bank to 63% from 70%.

Sterling, which has come under pressure again from Britain's recently volatile politics, bounced too, clawing above $1.28 to its highest since Prime Minister Theresa May lost her parliamentary majority on June 8.

At 9:41am ET (1341 GMT), the Dow Jones Industrial Average was up 98.89 points, or 0.46 per cent, at 21,409.55, the S&P 500 was up 10.51 points, or 0.43 per cent, at 2,429.89.

In corporate news, the European Union slapped a record 2.42 billion euro fine on Alphabet's (GOOGL.O) Google saying it had abused its dominant market position. The EU alleges that the company breached antitrust rules with its online shopping service.

Petya: Govt working with Maersk to resolve situation at JNPT
He said any response would take time to implement given the large volume of traffic handled by the port. According to Microsoft , the flaw was patched in an update in March.

Nerves over the latest cyberattack, this time called Goldeneye, weighed on big tech names including Apple, Google-parent Alphabet, Facebook and Microsoft in premarket trading.

German utilities RWE and E.ON were among the worst performers, down 2.4 and 1.3 percent respectively.

USA crude CLcv1 rose 2.07 percent to $44.28 per barrel and Brent LCOcv1 was last at $46.73, up 1.96 percent on the day. Prices rose almost 2 per cent on Tuesday on the weaker dollar, short-covering and expectations that United States crude inventories might decline for a third consecutive week. Yields move inversely to prices.

Benchmark 10-year notes US10YT=RR last fell 18/32 in price to yield 2.1998 percent, from 2.137 percent late on Monday. It was last at 127.18 yen. The euro strengthened to $1.1287 from $1.1181.

The euro surged nearly 1 percent against the dollar on Tuesday after European Central Bank President Mario Draghi opened the door to tweaks that might begin to reduce the Bank's emergency stimulus to the economy shortly. In Europe, the DAX is down -0.67%, versus a -0.18% loss in the FTSE 100, as the stronger Euro is underpinning the underperformance of the DAX and markets continue to adjust to Draghi's hints at policy changes ahead. The shared currency gained almost 1.4 percent against the greenback in late trading. A global stock market selloff extended to Asia on Wednesday as investors grew cautious following losses on Wall Street sparked by a delayed healthcare vote and in Europe over hints that stimulus would be reduced. "Yet the currency soon received a second wind, hitting a 12-month high against the United States dollar following news that the Republicans had pushed back the Senate healthcare vote due to intra-party opposition", he added.

A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, June 28, 2017.

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