LONDON - World stocks stalled below recent seven-week highs on Wednesday, while the dollar was steady as investors awaited the results of the US midterm elections.

Bitcoin, the biggest cryptocurrency by market value, was again under pressure and fell more than 3 percent, a day after sliding 11 percent.

European stock markets were lower, US equity futures, were mixed and Asian shares edged up as the US midterm election results rolled in. This all left MSCI's World Stock Index stuck just below Tuesday's seven-week peak.

Average annual S&P 500 returns have been 14 percent in a split Congress and 13 percent in a Republican-held Congress under a Democratic president, according to data since 1932 analyzed by RBC Capital Markets. 

In Asia, Japan's blue-chip Nikkei stock index retreated from a two-month high as poor results from videogame maker Nintendo weighed. 

Focus remained on crypto currencies a day after crypto giant Binance signed a nonbinding agreement to buy FTX's non-US unit to help cover a "liquidity crunch" at the rival exchange, in a bailout that raised fresh concerns among investors about cryptocurrencies.

Bitcoin was last down over 3 percent at $17,917, while FTX's native token slid a further 27 percent.

With attention on the US midterm election and Thursday's key inflation numbers, trading more broadly in currency markets was generally subdued.

The dollar was down around a fifth of a percent at 145.45 yen, while the euro was just a touch softer at $1.0064.

Economists expect Thursday's inflation data to show a decline in yearly core numbers to 6.5 percent in October from 6.6 percent a month earlier.

US money markets price in a 50 basis point Fed interest rate hike in December and a roughly 33 percent chance of a bigger 75-bps increase.

Oil prices edged lower as industry data showed US crude stockpiles rose more than expected.

US crude fell around 0.7 percent to $88.22 per barrel and Brent was at $94.78, down 0.6 percent on the day.