Stocks fell sharply on Wednesday.
The S&P 500 fell 1.5 percent while the Nasdaq Composite fell 2.4 percent.
The STOXX Europe 600 fell 1.1 percent.
However, oil rose to a two-week high on Wednesday.
It rose further early on Thursday as Saudi Arabia and its Gulf Arab allies began a military operation in Yemen after Houthi rebels drove Yemen's president from his capital Sanaa.
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