NEW YORK (AP) — U.S. stocks are edging back from their records on Wednesday after the head of the Federal Reserve warned that more cuts to interest rates, which Wall Street has been banking on, are not guaranteed.

The S&P 500 slipped 0.4% in afternoon trading. The Dow Jones Industrial Average was down 135 points, or 0.3%, as of 2:40 p.m. Eastern time, and the Nasdaq composite was 0.1% lower. All three indexes are coming off their latest all-time high.

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