Stock futures are pointing to a lower open for major indexes on Wednesday as investors keep close tabs on deliberations in Congress on a sweeping bill that would extend significant tax cuts and boost spending.

U.S. stock index futures slipped and Treasury yields surged on Wednesday amid growing fiscal anxiety as investors focused on discussions around U.S. President Donald Trump's tax-cut bill that has been plagued by Republican infighting.

Stock futures fell as investors focused on American retailers to see how they are weathering the tariff storm.