Analysts at Deutsche Bank signaled in a report this week that the "great central bank unwind" could lead to another financial crisis, reports MarketWatch: "You slowly become anchored to believe the current situation is normal as it's persisted for so long now", the analysts wrote, according to MarketWatch.
In overnight news, Standard & Poors lowered China's sovereign credit rating due to that country's debt levels.
The Australian dollar rose to $0.8016 from $0.8012. The modest gains nudged both indexes to record highs, extending a run of milestones that stretches back to last week.
USA oil prices were down slightly before a meeting of oil producers that could extend production limits. The U.S. 10-year Treasury yield climbed to 2.264 percent, its highest level since August 1. Hong Kong's Hang Seng was little changed at 28,162.32, while the Shanghai Composite dipped 0.2 percent to 3,355.96. Qorvo slid $4, or 5.4 percent, to $70.32.
She also cautioned of the threat that cyberattacks pose to the financial system. The business software company posted solid quarterly results, but investors were concerned about the performance of its cloud business.
The consumer staples sector .SPLRCS fell 0.9 percent while the utilities sector .SPLRCU ended 0.8 percent lower.
Cereal maker General Mills was also down 8 percent after reporting a disappointing quarter. The most active USA gold futures for December delivery settled up $5.80, or 0.44 percent, at $1,316.40 per ounce.
High-dividend stocks like household goods makers fell. The stock lost $4.29 to $22.74.
Energy stocks also rose as oil prices headed higher.
The dollar index, which tracks the USA unit against a basket of six major rivals, fell 0.3 percent to 92.024.DXY, but it was still slightly higher on the week and was well above its more than 2-1/2 year trough of 91.011 marked on September 8.
Brent crude futures last stood at $55.83, down around one per cent from late USA levels as United States benchmark West Texas Intermediate (WTI) fell to $50.14.
The futures market implied traders saw a 57 percent chance of a December rate increase, little changed from on Tuesday, CME Group's FedWatch tool showed.
Marciot adds that the Bank of Canada and the Bank of England have been surprisingly hawkish recently. Natural gas declined 3 cents to $3.09 per 1,000 cubic feet. It has gained 0.3 percent on the week.
As for other precious metals, silver for December delivery fell 31.6 cents, or 1.82 percent to close at 17.018 dollars per ounce.