* Tiffany shares fall after CEO steps down
* Hasbro hits record high after results beat expectations
* Indexes down: Dow 0.12 pct, S&P 0.24 pct, Nasdaq 0.14 pct
(Updates to early afternoon)
By Tanya Agrawal
Feb 6 U.S. stocks slipped in early afternoon
trading on Monday amid a lack of major catalysts, including
economic data, and uncertainty over President Donald Trump's
Markets rallied sharply after Trump's election victory in
November, riding on hopes that his plans including simpler
regulations, higher infrastructure spending and tax cuts will
boost the economy.
However, investors have become wary about Trump's focus on
isolationist policies, including a travel ban on seven mainly
Muslim nations that was blocked by a federal judge on Friday.
Nearly 100 companies including Alphabet, Apple
and Facebook banded together to file a legal
brief opposing the ban, arguing that it "inflicts significant
harm on American business."
Trump's agenda presents risks as tax cuts and infrastructure
funding may boost growth, but restrictions on trade and
immigration could offset their effect, Goldman Sachs economist
Alec Phillips said in a note.
At 12:39 p.m. ET (1739 GMT) the Dow Jones industrial average
was down 23.3 points, or 0.12 percent, at 20,048.16.
The S&P 500 was down 5.57 points, or 0.24 percent, at
2,291.85 and the Nasdaq Composite was down 7.88 points,
or 0.14 percent, at 5,658.89.
"Investors are in a wait-and-see mode and are looking for
the next bullish catalyst to send the market higher," said Adam
Sarhan, chief executive officer at 50 Park Investments.
"There are concerns regarding the backlash against any
protectionist policies that come out of Washington and other
countries and investors are seeking clarity."
French far-right party leader Marine Le Pen launched her bid
for the presidency with a vow to fight deregulated globalization
and to take France out of the euro.
Ten of the 11 major S&P sectors were lower, with the energy
index's 0.91 percent fall leading the decliners.
Oil fell more than 1 percent as a stronger dollar, ample
U.S. supplies and excess speculative length outweighed OPEC
output curbs and rising tensions between the United States and
Microsoft's 0.52 percent fall weighed the most on
the S&P and the Nasdaq.
Hasbro jumped as much as 16.6 percent to a record
high of $96.34 after the toymaker's quarterly results beat
expectations. The stock provided one of the biggest boost to the
Tyson Foods fell 3.2 percent to $63.34 after the
nation's biggest chicken processor disclosed it had received a
subpoena from U.S. authorities that was likely linked to price
Tiffany fell 2.8 percent to $78.21 as the upscale
jeweler said its CEO has stepped down after what the company
called disappointing financial results.
Declining issues outnumbered advancers on the NYSE by 1,771
to 1,076. On the Nasdaq, 1,728 issues fell and 1,032 advanced.
The S&P 500 index showed 12 new 52-week highs and one new
low, while the Nasdaq recorded 90 new highs and 18 new lows.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Anil