Global Markets Decline as Investors Await Policy Decisions and U.S.-China Talks Raise Hopes

Asian and European stock markets fell amid economic concerns and policy speculation.
Investors waited for China's interest rate announcement and testimony from the Federal Reserve chair.
U.S. and Chinese diplomats met but gave no indication of progress on key disputes.
Oil prices dropped and the dollar rose against major currencies.
Bond yields increased in the U.K. ahead of an expected rate hike from the Bank of England.