The major US indexes pared losses late in the session.
Beijing did not announce expected policy support over the weekend
Surging value of dollar may be posing the biggest threat to US corporate earnings.
Nokia agreed in September to sell its devices and services business and license its patents to Microsoft for 5.44 billion euros after failing to recover from a late start in smartphones.
Nokia said the freezing of the fixed assets would not have any impact on the day-to-day operations of the company.
The deal will help Huawei expand its smartphone business.
Authorities have put forward a tax demand of Rs 2,080 crore.
In the first qarter results, Lumia sales showed incremental gains.
India is crucial for Nokia's attempt to hold on to global market share.
Wi-Fi only model costs $799 and one with cellular connection costs $929.