Most U.S. stocks slid on Wednesday, while Treasuries advanced as traders moved into a risk-off, “wait-and-see” mood and assessed the impact of Donald Trump’s government-shutdown comments on the prospects for tax reform. Oil rose after a US government report showed that stockpiles slid whilst production continued to climb, and gold saw gains as trader sentiment leaned towards safe-haven assets ahead of the Jackson Hole Symposium.

European stocks also moved lower, with investors assessing fresh data on the health of the Eurozone economy, as market participants counted down to a key meeting of central bankers. The Stoxx Europe 600, index SXXP, lost 0.5% to close at 373.92, partly erasing a 0.8% jump from Tuesday, when the benchmark ended a three-session losing streak. The Euro, however, showed strong performance as the Single Currency gained to the highest levels in eight-years against the British Pound.

Whole Foods approves Amazon merger

Shareholders of US grocery chain, Whole Foods, finally voted to approve a merger with internet giant, Amazon, on Wednesday morning in what would mark the biggest retail deal of 2017. Whole Foods and Amazon are preparing to seal their $13.7 billion deal, however, completion of the transaction is subject to regulatory approvals and other customary closing conditions. The deal awaits signing off by the US Federal Trade Commission.

Whole Foods approached the e-commerce giant about a merger this spring, as it grappled with falling sales and pressure from investors to improve performance. Shareholder approval had been expected for the bid, which has been greeted as a game-changer for the food industry as the merger would combine Whole Foods' physical footprint with Amazon's delivery prowess. Whole Foods has said it expects the deal to close by the end of the year.

Samsung’s new Galaxy Note 8

South Korean electronics giant, Samsung, launched the Galaxy Note 8 smartphone, the successor to the ill-fated Note 7, with its biggest screen yet, new stylus features, and a bolstered camera. Samsung has not yet disclosed the prices however several media reports in the lead up to the event said the device could be priced in excess of $1,000. Samsung’s Mobile chief, DJ Koh said that he is still working out the exact pricing but hopes it won't exceed that figure.

The Note category of phones was invented by Samsung and has been a very successful product for the company. But the Note 7 which was launched last year and subsequently recalled because they were catching fire, was a setback for the product. Samsung has since successfully recovered, and is expecting this to be the best Note sold.