Here is your round-up of the financial news from around the world:

1. European stocks open lower as global investors pull back from both risky assets and the U.S. dollar amid the ongoing political scandal in the White House that threatens to engulf President Donald Trump's nascent administration.

2. The U.S. dollar slumped to levels last seen in the immediate aftermath of Trump's surprise victory in November, trading as low as 97.29 against a basket of its global peers as investors reacted to a report from the Washington Post that the President had asked his former FBI Director James Comey to drop and investigation into Michael Flynn, his former National Security Advisor, relating to alleged ties with Russia.

3. Early indications from U.S. futures prices suggest significant declines for the Dow Jones Industrial Average at the opening bell, with the benchmark poised for a 127 point decline, the equivalent about 0.6%.

4. Lloyds Banking Group plc (LYG)  became the first of Britain's rescued lenders to return to private hands Wednesday after the government sold its final stake in the bank nearly a decade after the global financial crisis.

5. Oil investors, however, used the dollar's slump - and a surprise build in U.S. commercial inventories - to book profits from a near one-week rally that was lead by speculation of an extension of OPEC's production cuts.

READ MORE: 

European Stocks Called Lower as Trump Allegations Hit Global Markets

Lloyds Returns to Private Hands After Government Sheds Final Stake

This article was written by a staff member of TheStreet.

More from Video

5 Stocks to Buy Right Now Before 2019

5 Stocks to Buy Right Now Before 2019

Retirement Advice - It's Actually Better to Work Longer Than To Save More

Retirement Advice - It's Actually Better to Work Longer Than To Save More

What Did the World Look Like Before Photoshop? A History of Adobe

What Did the World Look Like Before Photoshop? A History of Adobe

Who Is Watching Your Crypto Wallet?

Who Is Watching Your Crypto Wallet?

Expect a Dovish Fed and Bullish Gold Response in 2019

Expect a Dovish Fed and Bullish Gold Response in 2019