U.S. stocks decline amid legal fight uncertainty

U.S. stocks ended lower after wavering in a tight range Monday, as uncertainties of a legal fight against U.S. President Donald Trump's travel ban weighed on Wall Street sentiment.

The Dow Jones Industrial Average fell 19.04 points, or 0.09 percent, to 20,052.42. The S&P 500 lost 4.86 points, or 0.21 percent, to 2,292.56. The Nasdaq Composite Index decreased 3.21 points, or 0.06 percent, to 5,663.55.

The U.S. Justice Department filed a notice of appeal seeking the reinstatement of Trump's controversial travel ban on refugees and citizens from seven Muslim-majority countries.

The latest turn of events triggered a new round of fights over the legitimacy of the ban, which has not only sparked mass protests across the country, but also created panic and drawn criticism around the globe.

U.S. stocks posted solid gains after Trump won the presidency election as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending.

Analysts said some profit-taking might be taking place after the three major indices lingering around all-time highs last week.

With no major economic data due out Monday, investors were still sifting through the January jobs report.

U.S. total nonfarm payroll employment increased by 227,000 in January, beating market consensus of 175,000, the Labor Department reported Friday. The unemployment rate was little changed at 4.8 percent.

Overseas, European equities decreased Monday. German benchmark DAX index at Frankfurt Stock Exchange dropped 1.22 percent, while British benchmark FTSE 100 Index inched down 0.22 percent.

In Asia, Chinese shares rallied Monday due to the strong performance of small-caps, with the benchmark Shanghai Composite Index going up 0.54 percent to 3,156.98 points. Endit