Most U.S. stocks slipped on Wednesday after doubts rose on Wall Street about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September.

The S&P 500 and the Nasdaq slipped from record highs on Tuesday as a series of downbeat earnings weighed on the indexes, while investors looked ahead to the U.S. Federal Reserve's policy meeting later in the day.

The S&P 500 and Nasdaq opened at fresh record highs on Tuesday, as investors assessed a slew of earnings reports from major U.S. companies and looked ahead to

The S&P 500 edged up 0.2% on Wednesday after the Federal Reserve kept interest rates unchanged, as anticipated. The Nasdaq Composite rose 0.4%, while the Dow Jones Industrial Average added just 28 points, or 0.1%.

Investors focus on the Fed's policy decision and Chair Jerome Powell's news conference. Earnings from Meta and Microsoft are due after the closing bell.

The Dow Jones Industrial Average ended the day 0.5% lower, or 204 points, while the S&P 500 closed with a 0.3% loss. The drop comes after the S&P 500 rose for six straight sessions. The Nasdaq composite fell 0.

Wall Street’s weeklong, record-breaking run ran out of momentum. The S&P 500 slipped 0.3% Tuesday for its first drop after setting an all-time high in six straight days.

Edwards Lifesciences rose 5.5% after likewise topping Wall Street’s expectations for profit in the latest quarter. It said it saw strength across all its product groups, and it expects profit for the full year to come in at the high end of the forecasted range it had given earlier.

NEW YORK -- U.S. stock indexes are tiptoeing around their record levels on Tuesday as an incredibly busy week for Wall Street picks up momentum.