Wake Up Wall Street: Britain Formally Begins to Brexit

U.S. stock futures are slipping while European stocks are mostly higher as the U.K. prepares to formally begin the two-year process of leaving the European Union.

This is what you need to know before the bell:

1. U.S. stock futures pointed to a weaker start for Wall Street on Wednesday while European stocks were mostly higher as the U.K. prepares to formally begin the two-year process of leaving the European Union.

2. The European Commission blocked the proposed merger of London Stock Exchange Group (LNSTY)  and Deutsche Boerse (DBOEY)  on Wednesday, saying the €29 billion ($30 billion) tie-up would have created a monopoly in fixed income clearing markets.

3. Toshiba's (TOSYY)  U.S. nuclear division, Westinghouse, filed for Chapter 11 bankruptcy protection in New York on Wednesday. The move was largely expected.

4. Wells Fargo (WFC)  agreed to pay $110 million to settle a class-action lawsuit over up to two million accounts its employees opened for customers without getting their permission, the bank said Tuesday.

READ MORE: 5 Things You Must Know Before the Market Opens Wednesday

Action Alerts PLUS , which Cramer manages as a charitable trust, is long WFC.