The Dow Jones Industrial Average declined 0.47% to 18,203.37 points on Tuesday, while the S&P 500 decreased 0.45% to 2,107.78 points. There were released no major economic reports in the U.S. yesterday.

Lower car sales in February weighed on the U.S. indices.

Europe's stock indices traded mixed. Investors are awaiting the European Central Bank's interest rate decision on Thursday.

UK's FTSE 100 index was down 0.23% to 6,873.61 points. Germany's DAX 30 declined 0.30% to 11,246.81 points, while France's CAC 40 rose 0.12% to 4,874.86 .

Retail sales in the Eurozone rose 1.1% in January, beating expectations for a 0.2% increase, after a 0.4% gain in December. December's figure was revised up from a 0.3% rise.

On a yearly basis, retail sales in the Eurozone surged 3.7% in January, after a 3.1% increase in December. December's figure was revised up from a 2.8% gain.

Eurozone' final services purchasing managers' index (PMI) fell to 53.7 in February from a preliminary reading of 53.9. Analysts had expected the final index to remain unchanged at 53.9.

Germany's final services PMI declined to 54.7 in February from a preliminary reading of 55.5. Analysts had expected the final index to remain unchanged at 55.5.

France's final services PMI remained unchanged at 53.4 in February, in line with expectations.

Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. decreased to 56.7 in February from 57.2 in January, missing expectations for a rise to 57.6.

Hong Kong's Hang Seng fell 0.96% to 24,465.38, China's Shanghai Composite rose 0.53% to 3,280.33. The Chinese HSBC services purchasing managers' index rose to 52.0 in February from 51.8 in January.

Hong Kong's private sector activity increased at the fastest pace in one year in February.

Japan's Nikkei dropped 0.59% to 18,703.6 due to a stronger yen. There were released no major economic reports in Japan on Wednesday.