European stock markets closed mostly lower Wednesday, as investors digested the latest bout of uncertainty surrounding the U.K. election and assessed a sharper-than-expected fall in eurozone inflation.

U.S. stocks closed lower on Wednesday, but off their worst levels of the session, notching gains for the month as a slump in bank shares and a mixed reading of economic reports weighed on investor sentiment.

Global equity markets struggled to find direction as a new month began, though Japan outperformed despite a lack of action with the yen, which often affects the country's stocks.