U.S. stocks ended lower on Friday, with healthcare stocks leading the declines, as investors cashed in on a post-election rally and waited for clarity on the next administration's policies.
Wall Street equities took a breather after rising dramatically since Donald Trump's surprise victory in the presidential election last week.
While the three major indexes closed higher for the second week in a row, the rally lost some steam this week as investors awaited more information to support their bets that Trump could succeed in passing proposals to lift infrastructure spending and reduce taxes.
The Dow Jones industrial average .DJI fell 35.89 points, or 0.19 percent, to 18,867.93 while the S&P 500 .SPX dropped 5.22 points, or 0.24percent, to 2,181.9.
Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump's election to president could accelerate fund outflows from emerging markets.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.1 percent, staying near four-month lows. Japan's Nikkei .N225 rose 0.3 percent as the yen continued to slip against the dollar.
Reference: Reuters
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