European stocks opened lower Wednesday, while U.S. equity futures were mixed as investors pullback from recent highs amid a slip in the dollar linked to reports that Senate Republicans could delay corporate tax cuts and alter other aspects of the reform bill supported by President Donald Trump.
Britain's FTSE 100 was marked 0.1% lower in the opening 45 minutes of trading in London while Germany's DAX index dipped 0.14% as financial and industrial stocks led decliners. France's CAC-40 was seen 0.18% lower while Switzerland's blue-chip SMI benchmark gave back 0.3%.
Wall Street is also expected to pullback modestly from last night's mixed session, with the Dow Jones Industrial Average priced for a 9 point decline, according to futures prices, and the broader S&P 500 looking at a 1.5 point, or 0.06%, slip at the opening bell.
The dollar's moves appear to be linked to a Washington Post report that suggests Republican senators would prefer to delay the implementation of corporate tax cuts for at least a year in order to limit their impact on the nation's overall debt burden. Senate Finance Committee Chairman Orrin Hatch is scheduled to reveal details of the Senate bill Thursday.
The greenback's weakness -- the dollar index slipped 0.1% to 94.84 -- helped add around 0.15% to the euro exchange rate, taking the single currency from its recent four-month low and past the 1.16 mark against the dollar.
Overnight in Asia, solid China trade data helped lift the country's benchmark CSI 0.6%, and past a two-year high, as investors cheered a 17.2% surge in imports into the world's second-largest economy.
More broadly, the MSCI Asia ex-Japan index was marked 0.06% higher, holding past a November 2007 high, while the Nikkei 225 pulled away from the 26-year high it hit yesterday with a 0.1% decline to take the benchmark to 22,913.82 points.
China's trade data, however, showed that the world's biggest energy consumer saw crude imports fall to a one-year low of 7.3 million barrels in October, from a record 9 million in September, helping clip recent gains for global oil prices.
Brent crude futures for January delivery was marked 0.4% lower at $63.51 per barrel while WTI contracts for the same month were seen 0.15% lower at $57.16.
More of What's Trending on TheStreet: