Global stocks were under pressure Wednesday after US President Donald Trump broadened his tariff threats, leaving European bourses lower even as the S&P 500 notched a fresh record.

Trump warned the previous day that he would impose tariffs "in the neighborhood of 25 percent" on auto imports and a similar amount or higher on semiconductors and pharmaceuticals.

"Understandably this has helped drive European carmakers lower, with the likes of Mercedes-Benz, BMW and VW losing ground," said Joshua Mahony, chief market analyst at Scope Markets.

European markets all dropped, with London hit by higher-than-expected inflation figures.