Global markets regained their composure on Wednesday after uncertainty over global central bank policy sparked three days of volatility. Although stocks in Asia closed predominantly lower, the major European markets posted minor gains. US stocks staged a rebound on Wednesday, in part thanks to a rally in Apple, as the main indexes were on track to recoup some of the losses suffered during the previous session.

Probably the biggest news of the day came from Bayer and Monsanto, after the two announced that they signed a definitive merger agreement, under which Bayer will acquire Monsanto for $128 per share in an all-cash transaction. This deal valued, at $66 billion, winds up four months of talks to create the world’s biggest supplier of seeds and pesticides. Shares of Bayer and Monsanto both traded higher following the news on Wednesday.

Luxury stocks lost some of their shine, with sour financial outlooks from Cartier’s parent company and Hermes International underscoring tough conditions for high-end retailers. “A collapse in demand in Asia and a weaker European tourism marker are two of the major reasons why luxury has lost its lustre” said Neil Wilson, market analyst at ETX Capital. This news sent shares of Richemont and Hermes tumbling on Wednesday. Shares of Burberry, Christian Dior and Gucci’s parent, Kering, were also trading in the red.

However, shares in Apple were trading well in positive territory for the third consecutive session. Shares were given a boost after analysts at RBC Capital Markets outlined five reasons why the tech giant is still a screaming buy, as the iPhone 7 cycle begins. Shares of Apple added 4.4% on Wednesday, to close the day at $112.70.

Elsewhere, a report on oil suppliers published by the Energy Information Administration showed how inventories declined by 600,000 barrels last week, much smaller than the 14.5 million barrel drop from the week before. Oil prices briefly spiked after the report, but have since turned lower with crude oil tumbling 2% to trade below $44 a barrel.

Markets have been shaken in recent sessions, with both stocks and long-dated government debt dropping amid questions about upcoming policy decisions from the world’s central banks. The Federal Reserve and the Bank of Japan both hold meetings next week, prompting speculation about how long ultra-easy monetary policy will continue and what it will mean for a rally that has sent the S&P 500 to record highs and global government debt to record low yields earlier this summer.

Investors have been trying to work out whether the Fed, the European Central Bank and the BoJ are becoming weary about adding further monetary stimulus into their respective financial systems. While odds of a rate hike by the Fed next week have drifted lower, analysts have said investors are still nervous about the possibility that borrowing costs will be raised sooner rather than later.