Trading volume of more than 12.3 billion shares marked the busiest trading day since just after the November 2016 election, and topped Monday's volume of 11.7 billion.
US Securities and Exchange Commission Chairman Jay Clayton said he "can't really say" what caused the dramatic drop in stock prices during recent trading sessions, but that all signs indicate financial markets are functioning normally. But U.S. shares were set to drift lower with Dow futures down 1.1 per cent at 24,527. Kostin wrote in a research note earlier this week. Gold, for example, was up 0.5 percent at $1,343 an ounce.
The FTSE 100 is up 71.17 points to 7,212.57 as of 1.08pm GMT.
Tokyo's Nikkei 225 rose 0.3 percent to 21,700.94 while South Korea's Kospi jumped 0.7 percent to 2,414.26.
United States 10-year yields were at 2.789 per cent, up from 2.766 per cent on Tuesday.
The spike in bond yields and the prospects of of rising inflation are what triggered the market sell-off in the U.S. last Friday, which then spread worldwide.
He told Xinhua that investors are rebalancing their portfolios from USA equities to more reasonably valued equity markets like China, Europe and emerging markets.
Also Wednesday, Australia's S&P/ASX 200 gained almost 0.8 percent to 5,876.80.
Bitcoin was under pressure again Tuesday, trading 5.9 percent lower at $6,509.
Still, the Dow's precipitous drop created a climate of uncertainty in global markets. "It is clear that there will be more volatility going forward", said Salman Ahmed, chief investment strategist at Lombard Odier Investment Managers.
The sharp declines in recent days marked a pullback long-awaited by investors after the market minted record high after record high in a relatively calm ascent. However, when the market is trading at 26,000, the same drop doesn't have as much punch. That's less true for China, whose financial markets are more cloistered from global investors.
NI housing market 'postive' but supply concerns remain
Residential buyer enquiries, instructions and sales have all continued to fall, the RICS UK Residential Market Survey found . However, the regional picture is varied with expectations in London negative and positive outside of the South East.
Major indexes in Asia and Europe also fell following Monday's 1,175-point drop in the Dow Jones industrial average.
USA stocks posted sharp gains in another wild trading session on Tuesday, as indexes rebounded from the biggest one-day drops for the benchmark S&P 500 index and the Dow Jones Industrial Average in more than six years that stalled the market's record run. Standard & Poor's 500-stock index ended up 1.7 percent, while the Nasdaq was up 2.1 percent.
On Friday, the Dow plunged 665.75 points, while the S&P 500 and the Nasdaq dropped 2.12 percent and 1.96 percent respectively.
Futures markets are turning cagey as the opening bell gets nearer, with Dow futures and the broader S&P futures, down a further 1 percent and 0.6 percent, respectively.
The Dow is down 8.5 percent from the record high it hit late last month.
Corrections are seen as entirely normal during bull markets, and even helpful in curbing excessive gains and allowing new investors to buy into the market at lower prices. It has been an uncommonly long time since the last market correction, which ended nearly two years ago.
"Investors are fearful that inflation. will rise faster than expected due to the impact of a weak dollar on import prices and rising wages, and that as a result interest rates may also rise faster than expected", wrote Colin Moore, global chief investment officer at Columbia Threadneedle Investments.
Also Wednesday, U.S. crude oil added 60 cents to $63.99 a barrel in electronic trading on the New York Mercantile Exchange. The euro fell to $1.2280 from $1.2392.
In the energy market, oil prices fell 2.0 percent.
The dollar fell to 109.70 yen from 110.28 yen.