Global stocks paused and the dollar slipped on Wednesday as concerns over the potential impact of U.S. tariffs when Donald Trump returns to the White House prompted traders to take some profits off the table before the month ends.

Stocks shrug off a new Trump tariff threat as the president-elect vows sweeping levies on the biggest U.S. trading partners.

European indexes were falling on Tuesday as investors worried that Donald Trump's pledge to slap tariffs on Canada, Mexico, and China could be a sign of things to come. The flagship Stoxx 600 index dropped 0.