News Summary

• UBS CEO Sergio Ermotti said investors may be underestimating the risks facing markets.
• He pointed to a growing mix of geopolitical tensions and economic uncertainty.
• The Dow Jones Industrial Average tumbled 405.41 points, or 0.77%, to end at 52,380.66 on Wednesday, posting a three-day slide.
• The CNN Money Fear and Greed Index also showed a decline in overall market sentiment, while the index remained in the "Fear" zone.
• The UBS chief said that "The ECB may start hike process.
• The Fed will follow," adding that they expect a couple of hikes in the next few months.