U.S. stocks slipped lower in choppy trading as investors continued to digest the recent days' fiscal debates, weighing some signs of hiring in the U.S. against ongoing uncertainty in Washington and Europe.

The Dow Jones Industrial Average fell 28 points, or 0.2%, to 11841, while the Standard & Poor's 500-stock index slipped two points, or 0.2%, to 1252. The Nasdaq Composite fell two points, or 0.1%, to 2667.

The tepid moves came after private-sector hiring in July came in a touch better than expected, and followed a day of heavy selling across global stock markets. If investors are able to squeeze out a gain, it would end an eight-day stock market slide that included the biggest one-day sell-off in two months.

In overseas markets, European stocks fell sharply in the wake of the U.S.'s Tuesday losses, with the Stoxx Europe 600 hitting an 11-month low in intraday trading. Asian bourses were also hit hard overnight. Japan's Nikkei index fell 2.1%.

Gold futures rose to above $1,670 an ounce, after settling Tuesday at a record on the New York Mercantile Exchange, as continued anxiety kept money flowing into safe-haven assets. Crude oil futures fell to $93.28 a barrel, though prices may change after the release of inventory data at 10:30 a.m. EDT. The U.S. dollar lost ground against both the euro and the yen.

In economic news, Automatic Data Processing reported 114,000 new private-sector jobs were added in July, slightly better than consensus expectations for a gain of 105,000 jobs. However, the previous month's jobs number was revised down to 145,000 new jobs, from an original estimate of 157,000. Challenger Gray & Christmas announced job cuts in July increased 60% from the previous month, hitting a 16-month high.

On Thursday, investors will get a look at weekly jobless claims before Friday's important monthly nonfarm payrolls report.

Separately, readings on service sector activity for July and factory orders for June are both due at 10 a.m. EDT.

In corporate news, Hertz Global Holdings and CBS both reported late Tuesday earnings and revenue that exceeded Wall Street expectations. Hertz surged 5.2%, while CBS gained 1.5%. Time Warner fell 2.2% after it also topped forecasts, while increasing its stock buyback program.

MasterCard gained 5% after second-quarter earnings climbed 33%, benefiting from double-digit increases in volume and processed transactions.

IntercontinentalExchange edged up 0.3% after second-quarter earnings jumped 19% as the market operator saw its top line get a boost from strong trading volume in its Brent crude and gasoil futures and options contracts.

Dunkin' Brands dropped 2.5% after second-quarter profit fell 1%, weighed down by higher expenses, though the company registered strong international sales growth. The parent company of Dunkin' Donuts and Baskin-Robbins, which went public last month, reported a profit of $17.2 million, down from $17.3 million a year earlier.

KKR & Co. fell 3.4% after the private equity firm reported a 32% increase in second-quarter profits, but fell far short of earnings and revenue expectations.

Elsewhere, shares of Garmin slumped 4.2% after missing earnings estimates, while AMAG Pharmaceuticals rallied 10% after receiving a buyout bid from MSMB Capital Management. Read More