NEW YORK — U.S. stock indexes drifted lower on Wednesday as a seemingly relentless rally on Wall Street takes at least a pause.

The S&P 500 slipped 0.3% for a second straight, modest loss . The Dow Jones Industrial Average dropped 171 points, or 0.4%, and the Nasdaq composite fell 0.4%. All three are still near their all-time highs , which were set on Monday.

It’s a slowdown following the U.S. stock market’s 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 rally was so big that it raised concerns about stock prices shooting too high and becoming too expensive, particularly if the Fed does not deliver as

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