US stock indexes are slipping as Wall Street takes a moment following a relentless rally.

The S&P 500 fell 0.5 per cent. The Dow Jones lost 89 points, or 0.2 per cent and the Nasdaq composite shed 1 per cent. Nvidia weighed on the market after giving back some of its big gain from the day before, when it announced a partnership with OpenAI to build out data centres. Wall Street’s most influential stock lost 2.8 per cent.

Wall Street is counting on more rate cuts this year. Credit: Bloomberg

The Australian sharemarket is set to slip, with futures at 6.01am AEST pointing to a loss of 31 points, or 0.4 per cent, at the open. The ASX added 0.4 per cent on Tuesday. The Australian dollar was fetching US66.00¢ at 6.10am AEST.

It’s a breather for Wall Street, which all set their latest

See Full Page