Sawt Falasteen - Global stocks mostly fall ahead of ECB, US inflation data

After winning numerous records in the weeks since the November 5 US presidential election, US stocks fell for the second straight day as analysts pointed to profit-taking.

But Alphabet jumped more than five percent after Google showed off a new quantum computing chip that it described as a significant breakthrough in the field, arguing it could lead to advances in drug discovery, fusion energy and other areas.

The Paris stock market retreated as French party leaders gathered at President Emmanuel Macron's Elysee Palace office to chart a route towards a new government.

The euro also fell ahead of the European Central Bank's monetary policy meeting on Thursday. The ECB is expected to lower interest rates by 25 basis points amid weak eurozone growth.

Independent analyst Andreas Lipkow said traders were taking a cautious approach ahead of the ECB meeting.

The main US indexes struggled as traders eyed US consumer price inflation (CPI) data due Wednesday, which could play a role in whether the US Federal Reserve decides to cut interest rates next week.

On Wall Street, "tomorrow's CPI report is in full focus with a looming rate-decision from the Fed coming," analyst Bret Kenwell of trading platform eToro said in a note.

Following recent spending and jobs data "traders have felt even more emboldened to bet on a December rate cut, while the Fed has done little... to quiet that expectation," he added.

Earlier, stock markets weighed "concerns that China's economic stimulus measures might not have a long-lasting effect", noted Dan Coatsworth, investment analyst at AJ Bell.

The growth plan comes as Beijing contemplates Donald Trump's second term in the White House.

The US president-elect has indicated he will reignite his hardball trade policies, fueling fears of another standoff between the economic superpowers.

The Shanghai stock market ended higher but Hong Kong fell.

Seoul's Kospi index rallied more than two percent after tumbling since President Yoon Suk Yeol declared short-lived martial law on December 3.

On the corporate front, shares in Stellantis rose around one percent on the Paris stock exchange after the car giant and Chinese manufacturer CATL announced plans for a $4.3-billion factory making electric-vehicle batteries in Spain.

Walgreens Boots Alliance soared 17.7 percent following reports that it could be acquired by private equity firm Sycamore Partners.

Boeing jumped 4.5 percent as it announced it was resuming production at two Seattle-area plants that had been shuttered for nearly three months due to a labor strike.

- Key figures around 2130 GMT -

New York - Dow: DOWN 0.4 percent at 44,247.83 (close)

New York - S&P 500: DOWN 0.3 percent at 6,034.91 (close)

New York - Nasdaq Composite: DOWN 0.3 percent at 19,687.24 (close)

Paris - CAC 40: DOWN 1.1 percent at 7,394.78 (close)

Frankfurt - DAX: DOWN 0.1 percent at 20,329.16 (close)

London - FTSE 100: DOWN 0.9 percent at 8,280.36 (close)

Hong Kong - Hang Seng Index: DOWN 0.5 percent at 20,311.28 (close)

Shanghai - Composite: UP 0.6 percent at 3,422.66 (close)

Tokyo - Nikkei 225: UP 0.5 percent at 39,367.58 (close)

Seoul - Kospi: UP 2.4 percent at 2,417.84 (close)

Euro/dollar: DOWN at $1.0529 from $1.0554 on Monday

Pound/dollar: UP at $1.2773 from $1.2757

Dollar/yen: UP at 151.92 yen from 151.21 yen

Euro/pound: DOWN at 82.42 from 82.73 pence

West Texas Intermediate: UP 0.1 percent at $68.59 per barrel

Brent North Sea Crude: UP 0.1 percent at $72.19 per barrel

burs-jmb/nro

U.AlSharif--SF-PST