Trading volumes are expected to be light in advance of the Thanksgiving Day holiday on Thursday.
Stocks ended near the previous session record high on Wednesday as Wall Street bumped up against disappointing job market data, while oil continued to rise and the dollar weakened further.
The economically sensitive banking sector lost ground, with the S&P 500 Banks index shedding 0.7%.
USA stock indexes closed mostly lower Wednesday, giving up some of their recent gains, on a day of mostly quiet trading ahead of the Thanksgiving holiday.
The Dow Jones Industrial Average soared above 30,000 for the first time in history on Tuesday, a rally that CNBC attributed to "positive vaccine news, hope for a strong economic recovery in 2021 and easing of political uncertainty as the Trump administration approved the start of the presidential transition".
The Dow is up 782.76 points, or 2.7%.More news: Russia Threatened to Ram US Warship That Allegedly Breached Border
The rally was also supported by the likelihood that President-elect Joe Biden will formally appoint former Federal Reserve Chair Janet Yellen as his Treasury secretary.
MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.57% lower, with Chinese shares capped by worries about rising debt defaults.
Encouraging study results this month from drugmakers working on coronavirus vaccines and treatments have tempered lingering concerns over rising virus cases in the USA, as well as in Asia and other parts of the world, and new government restrictions on businesses aimed at limiting the spread.
Traders continue to favour stocks that stand to gain the most from a gradual reopening of the economy, such as banks and industrial companies.
The selling followed reports showing the number of Americans seeking unemployment aid jumped last week to the highest level in more than a month.
Other data painted a similarly discouraging economic picture.More news: Iceborne Receives Movie Content
BlackRock Inc, the world's largest asset manager, on Monday upgraded USA equities to "overweight", turning bullish on quality large-cap technology companies and small cap firms that tend to perform well during a cyclical upswing. It was also optimistic about the incoming Biden government.
Treasury yields were mixed in afternoon trading after mostly moving lower in the early going, a sign of caution in the market.
The 10-year USA yield rose to 0.885%, compared with Thursday's low of 0.818%.
Gap led the way lower in the S&P 500, falling 18.8%, after the clothing retailer's third-quarter results fell short of Wall Street's forecasts. They will be open for half a day on Friday, closing at 1pm Eastern Time.
Updated on November 25, 2020, at 4:13 p.m. ET with the latest information.More news: Kristen Stewart calls straight actors playing gay characters 'a grey area'