Canada's benchmark S&P/TSX fell 117.93 points, or 1.9%, to 6,100.68.
European markets were higher on the back of Tuesday's gains in the U.S. market and hopes for an earnings recovery. In London, the Financial Times-Stock Exchange 100 index was up 107.80 points, or 2.84%, to 3,905.20.
In France, the CAC 40 gained 112.28 points, or 4%, to 2,940.84. French liquor company Pernod Ricard rallied after it said first-half profit rose 47% and that full-year profit will meet forecasts. And in Germany, the DAX Index was up 61.51 points, or 2.15%, to 2,926.74.
Asian markets finished mixed. The Nikkei fell 112.93 points, or 1.23%, to close at 9,049.33, led by banks. Major stock indices fell for the third consecutive day in Japan, as early gains fueled by a sharp recovery of U.S. equities overnight were offset by uncertainty over the domestic financial system and corporate earnings.
In Hong Kong, the market gained 37.14 points, or 0.41%, to close at 9109.35.