NEW YORK - US stocks fell in early trade with a top Federal Reserve official saying its monetary stimulus program can't continue forever. After 45 minutes of Tuesday trade, the Dow Jones Industrial Average was down 23.41 points (0.15 per cent) at 15,759.69, pulling back from Monday's record high. The broad-based S&P 500 Index fell 4.44 (0.25 per cent) to 1,767.45, while the tech-rich Nasdaq Composite dropped 11.88 (0.30 per cent) to 3,907.91. Dallas Fed president Richard Fisher said the central bank's quantitative easing (QE) couldn't go on forever. In an interview with CNBC, Fisher said the Fed's balance sheet had become "bloated" and warned that "at some point, we will have to taper back on the pace of purchases...." LONDON - Europe's stock markets weakened in a cautious session on growing speculation the US Federal Reserve could begin withdrawing its economic stimulus soon. London's benchmark FTSE 100 index ended Tuesday down 0.02 per cent at 6,726.79 points, Frankfurt's DAX 30 slid 0.34 per cent to 9,076.48 points and the CAC 40 in Paris fell 0.61 per cent to 4,263.78 points. "It was a transitional session with weak volumes and no great macroeconomic news," said Renaud Murail of Barclays Bourse. The market had little to bite into. The euro rose to $US1.3427 from $US1.3407 late in New York on Monday. HONG KONG - Asian shares closed mostly higher amid a lack of trading cues, as markets await the outcome of a major political meeting on economic reforms in China. Tokyo on Tuesday closed up 2.23 per cent, with the Nikkei 225 index gaining 318.84 points to 14,588.68 as a weaker yen buoyed exporters. Seoul rose 0.92 per cent, with a rally in Samsung shares helping lift the KOSPI 18.18 points to close at 1,995.48. Shanghai shares closed up 0.82 per cent ahead of an expected official announcement about the meeting of China's ruling Communist Party, due to end on Tuesday after four days. The benchmark Shanghai Composite Index rose 17.30 points to 2,126.77. WELLINGTON - The NZX 50 fell 6.504 points, or 0.1 per cent, to 4915.668.