Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector.
Federal Reserve Vice Chairman Stanley Fischer warned that economic stability could be threatened by low interest rates and noted the central bank is "very close" to its employment and inflation targets, but said it was "not that simple" for the Fed to raise rates.
The Dow Jones industrial average .DJI fell 51.98 points, or 0.29 percent, to 18,086.4, the S&P 500 .SPX lost 6.48 points, or 0.3 percent, to 2,126.5 and the Nasdaq Composite .IXIC dropped 14.34 points, or 0.27 percent, to 5,199.82.
Asian stocks edged higher and the dollar consolidated recent gains on Tuesday though risk appetite was low as weak U.S. markets prompted investors to stay on the sidelines.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.2 percent in early trade. Australia's benchmark index was up 0.3 percent.
Daily portfolio flows to emerging markets declined sharply last week with the seven-day moving average declining to its lowest level since a surprise Chinese currency devaluation in August 2015, according to flows data from Institute of International Finance.
Reference : Reuters
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