Chief executives of Walmart, Target and Home Depot reportedly warned Trump that supply chain disruptions were already underway and would lead to empty shelves at U.S. stores in a matter of weeks.

Gold fell for a second day as the White House struck a softer tone on Federal Reserve independence and investors weighed Trump administration comments on trade.

The U.S. dollar staged a tentative rebound against its major peers on Wednesday on hopes of de-escalating trade tensions and as President Donald Trump backed away from threats to fire the head of the Federal Reserve,