Despite a positive report on German business sentiment, concerns regarding the US economy and issues in the banking sector continued to weigh on investor confidence on Wednesday. The dollar and stocks remained under pressure, but interest in commodities like oil, gold, and industrial metals increased due to the weakening greenback. Deutsche Bank's warning about potential credit market impacts on 2008 profits, along with data showing a drop in US consumer confidence and a decrease in new orders for US manufactured goods, led investors to proceed with caution. Wall Street was expected to open lower with major stock index futures all showing losses. Sean Maloney, a fixed-income strategist at Nomura in London, stated that there is still apprehension in the banking sector. He pointed out that Deutsche Bank's announcement was a reminder that JPMorgan increasing its bid for Bear Stearns does not resolve all the issues for the financial sector. Earlier news of JPMorgan significantly raising its takeover offer for Bear Stearns had led to a surge in financial stocks worldwide and alleviated concerns about a sector struggling with a credit crunch. The FTSEurofirst 300 index of top European shares dropped by 0.9 percent, while Germany's DAX declined by 0.7 percent, particularly with Deutsche Bank falling by about 2 percent. London's FTSE 100 index also fell by 0.7 percent, mostly due to a nearly 7 percent drop in Swiss miner Xtrata following the breakdown of takeover discussions with Vale, the world's largest iron ore miner. In Asia, Japan's Nikkei ended down by 0.3 percent, but MSCI's measurement of other Asian stock markets increased by 0.7 percent. MSCI's primary global stock index increased by 0.2 percent. The dollar weakened compared to other major currencies, with the dollar index dropping by 0.8 percent due to ongoing worries about the US economy. On the other hand, positive data indicating a rise in the German business climate index, based on a survey of approximately 7,000 businesses, from 104.1 in February to a better-than-expected 104.8, helped push the euro up. The euro climbed around 0.7 percent to $1.5736 for the day, also receiving a boost from comments made by European Central Bank President Jean-Claude Trichet that suggested no immediate interest rate cuts. Trichet, speaking before an economic committee of the European Parliament, stated that the ECB believes the current monetary policy will help maintain price stability in the medium term. In the world of commodities, US light crude for May delivery increased by $1.25 to $102.47, while the price of gold rose to $947.70 per ounce, up from around $934.60 per ounce in New York on Tuesday. Copper for three-month delivery on the London Metal Exchange was last traded at $8,155 per tonne, showing a 0.8 percent increase. Despite a pessimistic US economic outlook, global demand for many commodities is expected to remain strong, particularly due to thriving economies like China. Shuji Sugata, a manager at Mitsubishi Corp Futures and Securities Ltd in Tokyo, noted that the fall of the dollar has led to increased buying, although traders are hesitant to take significant positions before the end of the quarter. Concerns about the US economy have bolstered demand for safe-haven U.S. Treasuries, resulting in the benchmark 10-year yield dropping by about 5 basis points to 3.457 percent. German 10-year bonds did not perform as well as US bonds, influenced by Trichet's remarks and new bond issuance. The 10-year yield remained relatively stable at 3.887 percent.