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• The Dow Jones Industrial Average .DJI dropped 1.14 percent to end at 20,668.01 points, while the S&P 500 .SPX lost 1.24 percent to 2,344.02. The Nasdaq Composite .IXIC fell 1.83 percent to 5,793.83.

Wall Street fell sharply on Tuesday as investors worried that President Donald Trump will struggle to deliver promised tax cuts that propelled the market to record highs in recent months, with nervousness deepening ahead of a key healthcare vote.

• Republican party leaders aim to move controversial healthcare legislation to the House floor for debate as early as Thursday. But they can only afford to lose about 20 votes from Republican ranks, or risk the bill failing, since minority Democrats are united against it.

Shares in U.S. banks tumbled on Tuesday as investors shrunk back from a post-election rally on worries that President Donald Trump would not be able to live up to his promises for large-scale relief on tax and regulation.

Bank of America Corp shares fell 5.8 percent making it the biggest driver for a 3.9 percent sell-off in the S&P's bank subsector and compared with a 5.5 percent drop in the KBW regional bank index and a 1.2 percent drop in the benchmark S&P 500.

JPMorgan Chase & Co was the second-biggest drag on the banking index on Tuesday with a roughly 3 percent drop while KeyCorp was the biggest percentage decliner, down 6.5 percent.

Investors were worried that if the Trump administration cannot pass a healthcare bill that is up for vote this week, it will be harder to deliver on the promises for tax and regulatory reform, which helped propel bank stocks to their highest levels since November 2007, before the financial crisis.

• Asian stocks fell on Wednesday as a sharp pullback in Wall Street on doubts about Donald Trump's economic agenda prompted investors to rush to safe haven assets such as gold and government bonds.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.5 percent in early trades after it hit its highest level since June 2015 in the previous session.

Early Asian market openers such as Japan .N225 and Australia fell more than a percent.