(Bloomberg) -- Asian stocks traded mixed Wednesday while European and U.S. futures edged lower as investors mulled revived aid talks in Washington and progress on coronavirus vaccines. The dollar held a slide to a more than two-year low and oil extended losses.Shares outperformed in South Korea, edged higher in Japan and fell in Hong Kong, where China’s No. 2 smartphone maker Xiaomi Corp. dropped the most ever after disclosing a share sale. S&P 500 futures slipped after the gauge closed up more than 1%.The offshore yuan erased a gain after a report that President-elect Joe Biden won’t immediately remove tariffs on Chinese goods. Biden told the New York Times he’ll leave the phase-one trade deal with China in place while he reviews U.S. policy toward the Asian nation in consultation with key allies.Oil slid as tensions between OPEC members heightened uncertainty over the group delaying its planned output increase. Gold held an advance, while Bitcoin retreated after almost reaching $20,000 for the first time. Benchmark Treasury yields stayed above 0.9%.After a record month for global stocks, the rally that’s been fueled by vaccine breakthroughs looks like it may be cooling. Pfizer Inc. and partner BioNTech SE have sought regulatory clearance for their Covid-19 vaccine in the European Union and BioNTech said it could start shipping the first doses “within hours” after approval. Still, the pandemic continues to gather strength across the U.S. and policy makers are warning about the economic implications.“The question is how much is already priced in, and is the upside therefore limited?” Esty Dwek, head of global market strategy at Natixis Investment Managers Solutions, wrote in a report. “As we look to 2021, the outlook is one of improvement and leaving behind the chaos of the pandemic. Still, a number of risks remain.”Congressional efforts to pass additional coronavirus relief in the U.S. crept ahead Tuesday as House Speaker Nancy Pelosi presented a fresh Democratic proposal and Senate Majority Leader Mitch McConnell floated a revision of his smaller plan to fellow Republicans.Federal Reserve Chairman Jerome Powell cautioned lawmakers that the U.S. economy remains in a damaged and uncertain state during testimony at a Tuesday hearing before the Senate Banking Committee. In Australia, the central bank governor said a recovery is underway but remains patchy.These are some key events coming up:Fed’s Powell testifies before Congress again on Wednesday.The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than October.Here are some of the main moves in markets:StocksS&P 500 futures fell 0.2% as of 6:53 a.m. in London. The S&P 500 Index rose 1.1% on Tuesday.Topix index rose 0.3%.Hang Seng lost 0.1%.Australia’s S&P/ASX 200 index was little changed.Kospi index gained 1.6%.Shanghai Composite was little changed.Euro Stoxx 50 futures fell 0.3%.CurrenciesThe Bloomberg Dollar Spot Index was steady after declining 0.7% Tuesday.The yen fell 0.1% to 104.47 per dollar.The offshore yuan was at 6.5541 per dollar.The euro was little changed at $1.2067, after rising over 1% Tuesday.BondsThe yield on 10-year Treasuries was at 0.92%, after climbing nine basis points on Tuesday.Australia’s 10-year bond yield jumped to 0.98%.CommoditiesWest Texas Intermediate crude fell 0.8% to $44.22 a barrel.Gold fell 0.1% to $1,813.17 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.