1. IMF warning: The International Monetary Fund has warned that a further escalation of trade tensions could trigger another global financial crisis.

The fund said that risks to global financial stability are rising and it urged policymakers to step up efforts to complete financial reforms.

In its financial stability report, the IMF also cautioned about the risks stemming from the combination of growing levels of debt in emerging markets and rising interest rates in the United States.

"Clouds gather on the horizon," it said. "Support for multilateralism has been waning, a dangerous undercurrent that may undermine confidence in policymakers' ability to respond to future crises."

2. Big tech deal brewing? The Wall Street Journal has reported that Japan's SoftBank (SFTBF) is in talks to acquire a majority stake in WeWork.

The money involved is huge. The potential investment, which would likely come from SoftBank's Vision Fund, could reportedly reach $20 billion. The deal would value the office space provider at up to $40 billion.

SoftBank committed $4.4 billion to WeWork last year, but investors appear to be nervous about a deeper relationship. Shares in SoftBank dropped 5.4% in Tokyo on Wednesday.

WeWork operates in more than 20 countries and could soon become the largest office tenant in Manhattan. But analysts have questioned whether the startup's valuation is justified as losses mount.

The Wall Street Journal reported that discussions between the companies remain fluid. Both declined to comment to CNN.

3. Global market overview: US stock futures were pointing lower.

European markets dropped at the open. Stocks in Asia struggled to find direction.

The Dow Jones industrial average closed 0.2% lower on Tuesday, while the S&P 500 shed 0.1%. The Nasdaq ended the session flat.

4. Earnings and economics: Fastenal (FAST) will release earnings before the open.

The US Bureau of Labor Statistics will release its producer price index for September at 8:30 a.m. ET.

The UK economy expanded by 0.7% in the three months to August, according to the Office for National Statistics.

5. Coming this week:
Thursday — Delta (DAL) earnings; Walgreens Boots Alliance (WBA); Deadline for Sky shareholders to accept Comcast offer; Monthly OPEC report
Friday — Citigroup (C), JPMorgan Chase (JPM), Wells Fargo earnings (WFC); US consumer sentiment for October