World stocks fell from the previous session's record highs and European stocks European stocks were on course for their biggest decline in three weeks on Wednesday.
Worries about the impact of the Delta coronavirus variant on the global economic recovery tempered investor appetite. TheEurope-focussed STOXX 600 index fell 1.3 percent dropped on Wednesday on caution over the pace of economic recovery, a day ahead of a European Central Bank meeting that will see policymakers debate a cut in its stimulus.
Accommodative central bank policies and optimism about reopening economies have pushed world stocks to record highs, but concerns are growing about the impact of rising coronavirus infections due to the Delta variant.
Markets are also still assessing data from last week which showed the U.S. economy created the fewest jobs in seven months in August.
The dollar hit one-week highs as investors reduced exposure to riskier assets, recovering from recent five-week lows.
In Asia, hopes for more Japanese stimulus helped Tokyo buck the trend globally and extend a recent rally.
The Fed should move forward with a plan to taper its massive asset purchase program despite the slowdown in job growth, St. Louis Federal Reserve Bank President James Bullard said in an interview with the Financial Times on Wednesday.
MSCI's world equity index fell 0.24 percent after seven consecutive days of gains.
European stocks fell more than 1 percent to their lowest in nearly three weeks. Britain's FTSE 100 dropped 0.85 percent to two-week lows.
S&P futures fell 0.34 percent after the S&P 500 lost 0.34 percent overnight. The Nasdaq Composite hit record highs as investors favoured Big Tech stocks, which have performed well during the pandemic.
In Europe, markets are focused on whether the European Central Bank will this week begin to scale back its bond purchase programme.
Australia slipped 0.24 percent, Hong Kong shed 0.45 percent and Chinese blue chips dropped 0.41 percent, also weighed down by recent soft data in the world's second-biggest economy.
