US markets snap four-day rally; Brent crude at $114

Dow Jones Industrial Average was down 0.3% or 40.27 points at 13553.1. Nasdaq Composite was down 0.17% or 5.28 points at 3178.67. Standard & Poor's 500 was down 0.31% or 4.58 points at 1461.19.

In stock specific action Apple crossed USD 700 a share in after-hours trading after closing at a new all-time high after the company said iphone 5 sales set a record  over the weekend.

On economic data front, factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further.

In key data to watch out for in US today, housing market index is expected to rise to 38 in September.

In the currency space, the dollar hovers around 7-month lows against a basket of major currencies. The dollar index was below the 79 mark.

In commodities, Brent crude slipped to USD 111 levels in 3 minutes yesterday. It pares its losses to trade back above USD 114. In the meanwhile the US commodity futures trading commission is looking into the reason for the fall.

From the previous metals space, gold prices slip marginally to USD 1760 levels.