London — A cautious calm returned to stock markets on Wednesday as softer rhetoric from Washington on the US-China trade war soothed investors, though demand for safe-haven assets underscored lingering anxiety.

Europe’s Stoxx 600 climbed 0.7%, recovering from a three-day sell-off as investors fled after an escalation in the trade war. MSCI’s world equity index, which tracks shares in 47 countries, rose 0.2%. But gold, the yen and government debt remained in high demand as investors remain wary of riskier assets.

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