The S&P 500 consumer discretionary index lost 0.44 percent, with TripAdvisor sinking 10.97 percent after posting lower-than-expected quarterly revenue and profit.
Fundamentals also remain robust. A spate of strong economic data in recent weeks has run parallel with upbeat corporate results.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.3 percent, with Australia ahead by 0.1 percent.
U.S. equities had hit a series of record highs following Trump's election in November, encouraged by his promise of tax cuts and simpler regulations.
The dollar was down 0.1 percent at 113.670 yen after dropping more than 1 percent overnight, when it was knocked off its perch above 115.000.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent while Japan's Nikkei dropped 1.1 percent.
On the sectoral front, buying was seen in heavyweight capital goods, healthcare, FMCG and realty stocks
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, but on track to end the week up 1.9 percent.
The dollar was generally weaker despite US shares gaining and the Dow Jones Industrial Average closing atop the 20,000 mark for the first time.
The Dow closed atop the 20,000 mark for the first time overnight as solid earnings and optimism over Mr Trump's pro-growth initiatives revitalised a post-election rally.
The index came within a point of the historic level on January 6, as investors banked on pro-growth policies and tax cuts from the new administration.
The dollar halted a three-day losing streak against a basket of its trade-weighted rivals and pushed higher on Tuesday, though it dipped again slightly on Wednesday.
Lower U.S. Treasury yields also undermined the dollar. The benchmark 10-year yield posted its biggest one-day drop in more than two weeks as concerns about the fallout of Trump's tough stance on trade spurred safe-haven demand for bonds.
Hong Kong shares rose 0.6 percent and Taiwan shares rose 0.8 percent, helping to boost MSCI's broadest index of Asia-Pacific shares outside Japan 0.4 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent, and looked set to end the week flat.
The dollar index, which tracks the greenback against a basket of six major counterparts, rose 0.4 percent to 101.31.