U.S. stocks slip as Wall Street takes a pause from its relentless rally

U.S. stock indexes are slipping on Tuesday as Wall Street takes a moment following a relentless rally .

The S&P 500 fell 0.5%. The Dow Jones Industrial Average was down 69 points, or 0.2%, as of 1:30 p.m. Eastern time, and the Nasdaq composite was 0.7% lower.

It’s a breather for the indexes, which all set their latest all-time highs on Monday. After surging from a bottom in April, the broad U.S. stock market is facing criticism that it’s shot too high, too fast and become too expensive. Even the head of the Federal Reserve, Jerome Powell , said on Tuesday that stock prices broadly look “fairly highly valued.”

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 centers. Wall St