The current study addresses the issue of global dynamic event-triggered control based on reduced-order observer for a class of nonstrict-feedback stochastic systems in the presence of time-varying delay. Firstly, a lemma about the variable separation technique is proposed and proved for dealing with nonlinear functions in stochastic time-delay systems, which avoids the restrictive growth assumption that nonlinear functions need to satisfy. Secondly, a reduced-order observer is devised to reconstruct partial unmeasured state variables in systems, which equilibrates the control behavior between output feedback and state feedback. Then, without imposing any constraints on the derivative of time-varying delay, a dynamic event-triggered controller based on the symbol function technique is constructed to reduce the waste of resources in data transmissions and improve the communication efficiency. Furthermore, in the light of the stability theory of stochastic systems and Lyapunov-Razumikhin lemma, it is proved that the designed control algorithm can ensure that the controlled system is globally asymptotically stable in probability. Finally, two simulation examples are provided to verify the effectiveness of the developed approach.