US stocks decline for second straight session

Major US equity indices added on to prior session's profit taking slide and opened lower on Tuesday as investors brace for imminent Fed rate-hike move next week. 

During opening trade, the Dow Jones Industrial Average declined over 40-points to 20,910, while the broader S&P 500 Index dropped 6-points to 2,368. Meanwhile, tech-heavy Nasdaq Composite dipped nearly 15-points to 5,835.

Tuesday's decline was led by decline in health care stocks, with S&P 500's health-care sector off around 0.8% in wake of the US President Donald Trump's tweet that he was working on a new system to increase drug industry competition and reduce drug pricing.

Meanwhile, some analyst also attributed the ongoing slide to rising geopolitical worries, following North Korea's test of ballistic missiles on Monday. However, given stretched market valuations, geopolitical concerns prompted investors to lock-in some profits, especially after six weeks of winning streak for the S&P 500 Index.

Market participants also seemed to be repositioning themselves ahead of this week's key macro release from the US - monthly jobs report, which is traditionally known for infusing volatility in global financial markets, and could also influence March Fed rate-hike expectations.