Britain needs to restore stability to its finances to help reverse the fastest drop in financial sector sentiment in three years, a survey by business body CBI and consultants PwC said on Thursday.

Oil prices fell further on Wednesday, extending steep losses from the prior sessions amid growing concerns that a new COVID outbreak in China and a worsening global economic outlook will severely crimp demand. 

Asian stocks wallowed at two-year lows on Wednesday, after a strengthening dollar, instability in the U.K. bond market, and upcoming U.S. inflation data spelled a wild session on Wall Street and further volatility for investors.

 The dollar rose to a fresh 24-year high against the yen on Wednesday, moving above levels that prompted intervention by Japanese officials last month, as traders braced for U.S. inflation data and its impact on further Federal Reserve rate hikes.

Sales of electric vehicles (EV) in China rose at their slowest pace in five months as demand faltered in a sputtering economy despite government incentives to revive the auto market, though industry officials forecast a stronger end to the year.

Oil prices saw choppy trade on Tuesday as markets weighed potentially weaker demand against supply disruptions from the Russia-Ukraine conflict and OPEC production cuts.