Stock markets, oil prices rebound after rout

Stock markets and oil prices recovered slightly Wednesday after a rout, alongside warnings of renewed volatility and slower global economic growth.

The world economy has peaked and faces a slowdown driven by international trade tensions and tighter monetary conditions, the Organisation for Economic Cooperation and Development warned.

It comes a day after stock markets plunged as a beating for the technology sector helped wipe out all of Wall Street's Dow index 2018 gains.

"Global stock market jitters have returned this week with investors growing increasingly skittish as the rout in US tech stocks, which began last month, deepens," said David Cheetham, chief market analyst at XTB trading group.

"A broad basket of European shares fell to their lowest level since early 2017 yesterday and while we have seen a bounce ... the markets remain susceptible to further declines going forward."