European stocks fluctuated while U.S. futures edged lower a day after reaching record highs as optimism over coronavirus vaccines waned. Yields on Treasuries and German bunds held most of Tuesday’s spike.
Pro-cyclical sectors including autos and chemicals led declines on the Stoxx Europe 600 Index. Britain’s pound reversed a gain after the European Union’s chief Brexit negotiator Michel Barnier reportedly told envoys the outcome is still too close to call.
Shares traded mixed in Asia, where China’s No. 2 smartphone maker Xiaomi Corp. dropped the most ever after disclosing a share sale. The offshore yuan erased gains after president-elect Joe Biden told the New York Times he won’t soon remove tariffs on Chinese goods. Gold rose for a second day.