In afternoon European trading, Britain's FTSE 100 slid 0.8 percent to 5,662.60 and France's CAC-40 fell 0.6 percent to 3,848.34. Germany's DAX dipped 0.3 percent to 6,594.47.

Wall Street opened lower. The Dow fell 72 points, or 0.6 percent, to 11,097.30 and broader S and P futures shed 6.8, or 0.6 percent, to 1,178.88.

Beyond corporate news, markets were focused on the prospects for monetary stimulus by the Fed.

Traders have bet that the US central bank will enact a bond-buying program in early November in a bid to support the world's biggest economy. Buying bonds would drive interest rates and yields even lower, which makes stocks a more attractive investment.

The Wall Street Journal reported Wednesday, without citing sources, that the Fed will likely take a more gradual and flexible approach to economic stimulus by announcing a new program to buy several hundred million dollars worth of US Treasury bonds over the next few months.

That's in contrast to the nearly $2 trillion spent during the financial crisis. It also suggests traders' hopes that the size of the bond purchase will be around $500 billion may be excessive.

The Fed is due to decide on the new economic stimulus measures next week.

Economic figures from the U.S. failed to cheer investors.

In Asia, Japan's benchmark Nikkei 225 stock index trimmed gains to close up just 9.65 points, or 0.1 percent, at 9,387.03. Exporters got a modest lift as the yen reversed some of its recent strength against the US dollar.

Investors were reluctant to trade heavily ahead of the release of corporate results from major Japanese companies including Sony Corp. and Honda Motor Co. later this week.

South Korea's Kospi fell 0.5 percent to 1,909.54 after government figures showed the country's economic growth slowed sharply in the third quarter on weaker exports and manufacturing.

Hong Kong's Hang Seng index tumbled 1.9 percent to 23,164.58 and mainland China's benchmark dropped 1.5 percent to 2,997.05.

Australia's S and P/ASX 200 shed 0.9 percent to 4,648.10.

Benchmarks in India, Singapore and Taiwan also fell.

In currencies, the dollar rose to 81.53 yen from 81.49 yen late Tuesday in New York. The euro fell to $1.3819 from $1.3850.

Benchmark crude for November delivery slid 77 cents to $82.89 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 3 cents to settle at $82.55 on Tuesday.