Wall Street is taking a pause on Thursday as U.S. stocks and even the price of gold pull back from record highs following their torrid runs.
The S&P 500 slipped 0.2%, coming off its latest all-time high and its eighth gain in the last nine days. The Dow Jones Industrial Average was down 145 points, or 0.3%, as of noon Eastern time, and the Nasdaq composite was 0.2% lower.
Gold also fell following its stellar rally this year, while Treasury yields held relatively steady in the bond market. They’re taking a moment following big runs driven in large part by expectations that the Federal Reserve will cut interest rates to support the economy.
Financial markets have been so relentless, including a roughly 35% leap for the S&P 500 since a low in April, that worries are rising that stock price