Crude oil prices fell on Friday ahead of a weekend meeting that could yield an output freeze by major producers, while the US dollar and stocks across the globe edged lower but posted weekly gains.
On the Wall Street, energy stocks led the market slightly lower as oil fell, and Apple shares also weighed after Nikkei business daily reported Apple will continue its reduced production of iPhones in light of sluggish sales.
The S&P 500, however, posted its seventh positive week in the last nine.
The MSCI index of stocks across the globe hit its highest point of the year on Thursday and emerging market stocks racked up their best weekly gain in six. European shares fell 0.3% but posted their largest weekly gain in two months.
On Friday, the Dow Jones industrial average fell 28.97 points, or 0.16%, to 17,897.46, the S&P 500 lost 2.05 points, or 0.1%, to 2,080.73 and the Nasdaq Composite dropped 7.67 points, or 0.16%, to 4,938.22.
Japan's Nikkei closed 6.5% higher for the week.
Asian shares dropped on Monday, dragged down by tumbling crude oil futures after producers' weekend talks failed to address the global supply glut.
The Nikkei stock index .N225 fell 3.2 percent, as investors weighed the impact of devastating earthquakes in western Japan's Kyushu on manufacturers' supply chains.
Reference: DNA India, Reuters
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