The Nikkei 225 erased gains and is now down 1%.

USD/JPY continued to decline against the yen, down more than 0.50% within the day, and is now at 139.67.

The Nikkei 225 index fell below 32,000 points, down 0.65% on the day.

The annual rate of core machinery orders in Japan in May was -8.7%, expected -0.2%, and the previous value was -5.90%.

The monthly rate of core machinery orders in Japan in May was -7.6%, expected to be 1.00%, and the previous value was 5.50%.

New Zealand Prime Minister Hipkins: Now is not the time for massive tax reform.

According to Politico: Musk will have a conversation with two U.S. lawmakers on Wednesday in a Twitter chat room on AI-related issues.

FT: Chancellor Hunt orders ministers to save £2bn for public sector wage hikes

Faraday Future (FFIE.O) named Maroko as interim chief financial officer.

Faraday Future (FFIE.O) fell 1.3 percent after hours.

Market news: The UK announced new aid to Ukraine, including a £50 million equipment maintenance support plan.

Market news: KPMG and Microsoft reached an artificial intelligence alliance.

According to the Wall Street Journal: KPMG plans to invest $2 billion in artificial intelligence and cloud services.

Market news: US President Biden will meet with Ukrainian President Zelensky at 3:45 pm Eastern European Time on Wednesday, and will deliver a speech on Ukraine at 19:45 pm on Wednesday.

The import of API refined oil in the United States in the week to July 7 was -230,000 barrels per day, and the previous value was -263,000 barrels per day.

In the United States, the volume of API crude oil production in the week to July 7 was 340,000 barrels per day, compared with the previous value of -46,000 barrels per day.

The United States imported 490,000 barrels of API crude oil in the week to July 7, compared with the previous value of 217,000 barrels.

In the United States, API heating oil inventories in the week to July 7 were 340,000 barrels, compared with -209,000 barrels before.