By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — U.S. stocks are drifting on Wednesday as Wall Street takes a pause from what seemed like a relentless rally.

The S&P 500 edged up by 0.1% in early trading, coming off its first loss in four days. The Dow Jones Industrial Average was up 152 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.1% higher. All three are near their all-time highs, which were set on Monday.

The U.S. stock market has been on a blistering run since hitting a low in April, fueled by hopes that President Donald Trump’s tariffs won’t derail global trade and that the Federal Reserve will cut interest rates several times to boost the U.S. economy. The big rally, though, has raised concerns that stock prices have shot too high a

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