The Dow slipped 112.59 points, or 0.40% to close at 28,051.41. The S&P 500 pulled back 0.40% to 3,140.98. The Nasdaq Composite fell 0.46% to end the day at 8,665.47. Stocks fell in a shortened trading session but still posted their best monthly performance since June.
The S&P 500 rose more than 3% for November, notching its biggest one-month gain since June when it rallied more than 6%. Optimism around U.S.-China trade relations and a milder-than-expected pullback in corporate earnings helped drive the market's strong performance this month. However, the signing of two U.S. laws supporting Hong Kong protesters dampened some of that positive sentiment as a key Dec. 15 deadline approaches. China also threatened on Friday to take "strong counter-measures" against the U.S.