Tech rally leaves Wall Street lower

Wall Street has fallen as a technology rebound lost steam and Walt Disney shares dipped, while investors assessed how a US tax overhaul would impact earnings.

Wall Street fell on Tuesday as a technology rebound lost steam and Walt Disney Co shares dipped, while investors assessed how a Republican US tax overhaul would impact corporate earnings.

The S&P 500 fell for a third straight session, a streak not seen since early August, trimming the index's rally this year to 17 per cent.

Buoyed by a 2.53 per cent increase in Electronic Arts Inc , the S&P 500 information technology index ended up 0.21 per cent, but pared earlier gains of as much as 1.39 per cent.

All three major indexes moved sharply lower late in the session.The Nasdaq Composite dropped 0.19 per cent to 6,762.21.Ten of the 11 major S&P sectors fell, led by losses in telecom services and utilities.

Declining issues outnumbered advancing ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored decliners.

About 6.9 billion shares changed hands on US exchanges, just above the 6.7 billion daily average for the past 20 trading days, according to Thomson Reuters data.

Asian stocks post biggest rise in a month as markets settle

Asian stocks posted their biggest daily rise in a month on Monday following modest gains in U.S. shares, though the greenback came under renewed pressure as Washington's political turmoil undermines confidence in U.S. economic policy.

With U.S. President Donald Trump touring in the Middle East and Europe and no major economic indicators due this week, investors are hoping for a week of consolidation after a flurry of U.S. political controversies rattled markets.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.9 percent on Monday helped by gains in Australia and Hong Kong stocks despite fresh curbs unveiled by regulators on the property markets in the latter.

European stocks are set to follow in Asia's wake with key indices set to edge higher in opening trades. FFIc1. Stock index futures .ESc1 were mildly higher in Asia.

Chinese stocks were the only laggards in the region with mainland indices .SSEC .SZSC in negative territory as concerns over renewed economic slowdown and overbearing regulation to curb broad financial risks weighed on sentiment.

The bounce in Asian stocks has been the best performance since April. 25 and has notched up gains of more than 17 percent for the MSCI emerging stocks index compared to 8 percent for the world index - even as some investors grew wary of the outlook.

U.S. stocks ended up on Friday but closed below their session highs on renewed concerns about Trump's presidency, following two new media reports of possible coordination between Russia and his election campaign.