US stocks fall on possible rate hike but European and Chinese stocks rise

US stocks fell on Wednesday. The S&P 500 lost 0.4 percent after Federal Reserve Chairwoman Janet Yellen hinted to the House Financial Services Committee that a 25 basis point rate hike in December was still on the cards.

The odds of a rate hike in December moving to 60 percent from about 52 percent on Tuesday, according to the CME Group Fed Watch tool.

Earlier, comments by European Central Bank President Mario Draghi that the bank is ready to provide more stimulus in December to boost inflation if needed helped push the STOXX Europe 600 up 0.5 percent.

In Asia, the Shanghai Composite Index jumped 4.3 percent on speculation that authorities in China will open a trading link between Hong Kong and Shenzhen by the end of the year.