By Rodrigo Campos
NEW YORK (Reuters) - U.S. stocks fell on Thursday after European Central Bank president Mario Draghi brushed off pressure to act and said the bank would reassess the impact of its monetary policy stimulus early next year and take further action if necessary.
The ECB met under growing pressure to act to prevent the bloc's economy from entering recession. The bank has already cut borrowing costs to record lows, given cheap loans to banks, and started buying debt to kick-start lending and bolster growth.
The United States is the main engine for a global economy in slow growth mode, a headwind for U.S. multinationals, according to Terry Sandven, senior equity strategist at U.S. Bank Wealth Management in Minneapolis.
"Comments from Europe obviously impact equity prices to a degree, but I think the key driver near term is tomorrow?s employment report," said Sandven.
"That will provide a better read on the pace of U.S. growth and the degree as to which inflation may be creeping into the market as measured by any wage growth."
The government's non-farm payrolls report for November is due Friday.
The Dow Jones industrial average <.DJI> fell 23.18 points, or 0.13 percent, to 17,889.44, the S&P 500 <.SPX> lost 3.74 points, or 0.18 percent, to 2,070.59 and the Nasdaq Composite <.IXIC> dropped 4.19 points, or 0.09 percent, to 4,770.28.
The Dow and S&P 500 had ended at records on Wednesday as data showed the U.S. services sector continued to expand, boosting cyclical stocks.
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Workers in various industries are expected to stage strikes and walkouts throughout the United States to advocate for a $15 per hour minimum wage and other labor rights. Workers include some at fast-food restaurants like McDonald's
(Editing by Bernadette Baum and Nick Zieminski)
