Equities wavered Wednesday following a down day on Wall Street, where worries about high valuations were compounded by mixed messaging from the Federal Reserve on its plans for interest rates.

Investors have enjoyed a months-long rally that has pushed some markets to record highs but the run-up took a pause Tuesday amid talk that the gains may have gone too far.

All three main indexes in New York were dragged down from peaks by tech titans including Nvidia and Amazon, which have been at the forefront of the global surge owing to huge bets on artificial intelligence.

Another key driver of the gains has been expectations that the Fed will cut borrowing costs several times this year, with last week's reduction followed by forecasts that two more were in the pipeline.

However, comments fro

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