The health of the U.S. economy is a major focus for markets, and Wall Street closed lower on Tuesday after data showed services sector activity unexpectedly flatlined in July.

Wall Street indexes gained on largely upbeat corporate earnings, and U.S. yields also rose on Wednesday, while European shares closed flat and broke a two-day winning streak.

Asian shares are mostly higher in muted trading after discouraging U.S. economic data pulled Wall Street stocks lower